ST Engineering secures new contracts worth $1.5 billion combined

Singapore Technologies Engineering (ST Engineering) has secured new contracts with a combined value of approximately $1.5 billion for the second quarter of 2019. 

The aerospace technology specialists say that this is in addition to the $1 billion contract announced on 24 April for the design and construction of the first polar security cutter for the Department of the US Navy. 

The contract includes options for two more vessels, which when exercised would bring the total contract value for the three vessels to about $2.6 billion.

The aerospace sector received a number of contracts, from airframe to engine MRO services and support - contracts by the Aerospace sector were worth around $809 million.

These contracts include a multi-year agreement from a long-time customer to provide heavy maintenance services to their entire fleet of Boeing 717s, agreements from AirAsiaX Berhad and Beibu Gulf Airlines also for heavy maintenance, and a number of agreements for engine maintenance.

The firm has said that its ontracts by the electronics sector worth about $702 million including items such as smart mobility, satellite communications, Internet of Things (IoT) and cybersecurity.