March 19 2015 – Singapore Technologies Aerospace (ST Aerospace) has signed a joint venture agreement with Tenryu Holdings (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 seats, to include economy, business, and first class seats. The company 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.
“With the addition of ST Aerospace Aircraft Seats into our global network, this new joint venture will allow us to strengthen our foothold in the aircraft product development sphere and add a new dimension to our integrated cabin interiors offering. Through a single trusted provider, airline customers will experience streamlined aircraft downtime during cabin interior reconfiguration, resulting in enhanced operational efficiency,” stated Lim Serh Ghee, president of ST Aerospace.
Below: ST Aerospace entered the product development sphere in 2012 with the launch of Ergo, a range of lightweight economy seats jointly developed with Tenryu Aero Component