(1888PressRelease)
September 17, 2008 - The consideration was arrived at on a willing buyer, willing seller basis. STATA is a subsidiary of ST Aerospace, the aerospace arm of Singapore Technologies Engineering Ltd (ST Engineering).
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.
The Bruce Hartwig Flying School was acquired as part of the flying operations set up in Ballarat. It will be renamed ST Aviation Training Academy (Australia) Pty Ltd. STATA was established in September 2007 to provide commercial pilot training under commercial and air transport pilot licences curricula and multi-crew pilot licence (MPL) programme. Today, STATA operates out of Singapore’s Seletar Airport and the Ballarat Airport in the Victoria state of Australia.
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ST Aerospace is the aerospace arm of ST Engineering. Operating a global AIRCRAFT MRO network with facilities in the Americas, Asia Pacific and Europe, it is the world's largest airframe MRO provider with a global customer base that includes many of the world's leading airlines, airfreight operators and military operators. ST Aerospace provides a full spectrum of maintenance and engineering services through its two business segments:
1) Aircraft Maintenance & Modification (AMM)
http://www.staero.aero/www/businesssegment.asp?bussubid=NTAwMDA
2) Component & Engine Total Support (CETS)
http://www.staero.aero/www/businesssegment.asp?bussubid=NTAwMDM
Its services include AIRFRAME, ENGINE AND COMPONENT MAINTENANCE, REPAIR AND OVERHAUL; engineering design and technical services; and AVIATION MATERIALS and management services, including TOTAL AVIATION SOLUTION. ST Aerospace has a global staff strength of more than 7,000 engineers and technical specialists.
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