December 7, 2015 – Singapore Technologies Engineering (ST Engineering) has announced that it has streamlined its businesses in San Antonio, USA in a move to strengthen the Group’s aircraft interior engineering capability and improve operational efficiency.
As a result of this initiative, VT DRB Aviation Consultants, a subsidiary of Vision Technologies Aerospace (VT Aerospace), was merged into VT San Antonio Aerospace. Subsequent to the merger, VT San Antonio Aerospace, also a subsidiary of VT Aerospace, is the surviving entity. VT Aerospace is a subsidiary of Vision Technologies Systems, the US headquarters of ST Engineering. VT DRB Aviation Consultants’ operations will continue to be managed by the same leadership team.
ST Engineering said in a statement that it does not expect these developments to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.