ST Engineering's Aerospace Arm Acquires Remaining Shareholding In STA Solutions

(Singapore, June 27, 2008) -- Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace), has completed the purchase of SAS AB's (SAS) 28.7% shareholding in ST Aerospace Solutions (Europe) A/S [STA Solutions] for a sum of EUR28.3m which was arrived at based on fair market value agreed between both parties. The purchase follows the exercise of a put option by SAS pursuant to the Shareholders' Agreement entered into between SAS and ST Aerospace on 15 March 2006. With the completion of the purchase, STA Solutions becomes a wholly-owned subsidiary of ST Aerospace. STA Solutions was formerly known as SAS Component A/S.

This acquisition is not expected 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.


STA Solutions is currently operated and managed as part of ST Aerospace's network of MRO facilities. It operates warehouses and repair facilities located at Copenhagen, Stockholm, Oslo and Stansted. With STA Solutions, STA Systems and STA Supplies, ST Aerospace today is able to provide a more complete Component Total Support solution to customers.

Source : Singapore Technologies Engineering Ltd (SGX: ST Engg)