Singapore Technologies Aerospace (ST Aerospace) has signed a joint venture agreement with Tenryu Holdings Co, Ltd (Tenryu) to set up ST Aerospace Aircraft Seats Pte Ltd (ST Aerospace Aircraft Seats).
The joint venture will have a planned investment of $29.8m. ST Aerospace will own 90% of ST Aerospace Aircraft Seats’ shares, with the remaining 10% to be held by Tenryu.
Based in Singapore, ST Aerospace Aircraft Seats will be responsible for the end-to-end design and manufacturing of a range of aircraft seating solutions. The company’s longterm business roadmap will include a series of economy class, business, as well as first class seats. It will be marketed as part of ST Aerospace’s global network, working in tandem with the other network members to deliver an integrated cabin interiors offering.