ST Engineering's Marine Arm Sets Up Wholly Owned Engineering Design Subsidiary in China

Singapore Technologies Engineering Ltd (ST Engineering) today announced that its marine arm, ST Marine, has incorporated a wholly owned subsidiary, ST Marine (Wuhan) Engineering Design Consultancy Co. Ltd. (ST Marine Wuhan EDC), in China. Strategically based in Wuhan, ST Marine Wuhan EDC will strengthen ST Marine's engineering team in Singapore and leverage the latter's well established naval design capability and engineering expertise. The company will offer engineering design and consultancy services to both local Chinese as well as international companies operating in China. "This new engineering design consultancy is set up as an extension of our in-house engineering design capability and we are optimistic about the potential China has to offer as a marine power country and the world's largest shipbuilding country." ~ NG Sing Chan, President, ST Marine ST Marine's in-house Engineering Design Centre has a successful track record in the design of many proven platforms including offshore support vessels such as Diving Support Vessel, Seismic Survey Vessel and Anchor Handling Tug Supply vessels for both defence and commercial customers. The set up of ST Marine Wuhan EDC 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.
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Source: Singapore Technologies Engineering Ltd (SGX: ST Engg)
Date: Oct 21, 2011