ST Engineering Completes Acquisition Of B.R. Lee Industries Inc

Singapore, 9 June 2006 - Singapore Technologies Engineering Ltd (ST Engineering) today announced, as a follow up to their 1 May 2006 announcement, that its US company, Vision Technologies Land Systems, Inc (VTLS), has successfully completed the 100% acquisition of B.R. Lee Industries, Inc. (BR Lee) at an enterprise value of US$129m (about $204m). The completion follows the receipt of regulatory approvals and fulfillment of other closing conditions.

BR Lee will be renamed VT LeeBoy, Inc (VT LeeBoy). It is now a wholly-owned subsidiary of VTLS, which in turn, is a wholly-owned subsidiary of Vision Technologies Systems, Inc (VTS). VTS is a wholly-owned subsidiary of ST Engineering.


VT LeeBoy is a leader in the road construction and maintenance equipment market and the number one original equipment manufacturer in the US by unit volume for commercial class asphalt pavers and brooms. VT LeeBoy offers approximately 65 different models of road construction and maintenance equipment and has an extensive distribution network that covers 50 US states and 10 Canadian provinces. Its customers range from large road building contractors, small to medium specialty contractors and government agencies in the US.

Source : ST Engineering