Singapore Technologies Engineering Ltd (ST Engineering) today announced that further to its announcement dated 17 June 2015, its aerospace arm
Singapore Technologies Aerospace Ltd (ST Aerospace) has completed its investment of an additional 20 per cent equity interest in Elbe Flugzeugwerke GmbH (EFW) with the Dresden-based aircraft MRO and conversion specialist now becoming a subsidiary of ST Aerospace.
ST Aerospace now owns 55 per cent of the shareholding while Airbus Defence and Space GmbH (Airbus) holds the remaining 45 per cent.
The collaboration began in June 2015, between Airbus, EFW and ST Aerospace for the A320/A321P2F passenger-to-freighter (P2F) conversion programmes. This follows a similar collaboration for the A330P2F conversion programmes launched in 2013.
EFW, based in Dresden, Germany, has a current staff strength of over 1,000 and annual revenues of over €200 million. Apart from being the exclusive supplier for composite flat panels to Airbus for all Airbus aircraft, the company will serve as ST Aerospace’s centre for passenger-to-freighter conversions, aircraft maintenance, repair and overhaul (MRO), as well as engineering services in Europe, leveraging ST Aerospace’s global network, track record and expertise in aircraft MRO and engineering.