Sunday, January 2, 2011

ST Engineering Wins Contracts

Defense News


ST Engineering Wins Contracts

By Wendell Minnick

TAIPEI - Singapore Technologies (ST) Engineering announced contract awards worth $84 million in defense and commercial deals in a Dec. 20 press release.

ST Engineering is Singapore's leading defense equipment developer and manufacturer and is divided into four sectors: ST Aerospace, ST Electronics, ST Kinetics (Land Systems) and ST Marine.

ST Kinetics will supply the United Kingdom's Ministry of Defense with low- and high-velocity 40mm ammunition for use in operations and training. Delivery will begin in the second quarter of 2011 and will be completed in the first quarter of 2012. Details of quantities and costs were not disclosed.

ST Marine secured ship upgrade and modification contracts for both naval and commercial customers, including its first contract with the Royal Australian Navy (RAN) to convert the 18,000-ton HMAS Success, a combat logistics vessel, to a double hull. This is part a RAN effort to meet the International Maritime Organization's standards for environmental protection against oil spills, said an ST Engineering news release.

"HMAS Success is designed to supply naval combat units with fuel, ammunition, food and stores whilst underway at sea," the release said. "Work is scheduled to commence before the end of this year when the tanker is deployed in the region and will be re-delivered by the first half of 2011."

The company indicated these contracts would not have any "material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year."