Singapore Technologies Engineering Ltd (ST Engineering) has announced that further to our announcement on June 8, 2012, Vision Technologies Aerospace Incorporated (VT Aerospace) has received approval from the United States Bankruptcy Court in the District of Delaware to acquire the Tampa aerospace maintenance facility and certain assets of Pemco World Air Services (PEMCO), including the Boeing 737 freighter conversion Supplemental Type Certificates.
This acquisition is subject to regulatory approvals and customary conditions precedent, and is anticipated to close in July 2012