(1888PressRelease)
August 19, 2008 - The purchase follows the exercise of a put option by SAS pursuant to the Shareholders’ Agreement entered into between SAS and ST Aerospace on 15 March 2006. With the completion of the purchase, STA Solutions will become a wholly-owned subsidiary of ST Aerospace. STA Solutions was formerly known as SAS Component A/S.
This acquisition is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
STA Solutions is currently operated and managed as part of ST Aerospace’s network of aircraft MRO facilities. It operates warehouses and repair facilities located at Copenhagen, Stockholm, Oslo and Stansted. With STA Solutions, STA Systems and STA Supplies, ST Aerospace today is able to provide a more complete COMPONENT TOTAL SUPPORT SOLUTION to customers.
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