ST Aerospace Wins US$90 Million Airframe Maintenance Contract
By Yasmine Yayha, Channel NewsAsia | Dec. 04, 2009
ST Aerospace has won a contract worth US$90 million to provide airframe maintenance services for a major US airline.
The maintenance contract will include checks and heavy maintenance visits for a fleet of Airbus A320 Family aircraft and Boeing 767 aircraft over three years.
The airline has an option to extend the contract for two more years.
Including the option, the total contract value is about US$170 million.
The work will be performed at ST Aerospace's facility in Alabama from the first quarter of 2010.
Its listed parent company ST Engineering said on Dec. 4 that the contract is not expected to have any material impact on its consolidated net tangible assets per share and earnings per share for the current financial year.