Singapore Technologies Engineering Ltd will acquire elements of Pemco

Singapore Technologies Engineering Ltd (ST Engineering) today announced that further to our announcement on 8 June 2012, Vision Technologies Aerospace Incorporated (VT Aerospace) has received approval from the United States Bankruptcy Court in the District of Delaware to acquire the Tampa aerospace maintenance facility and certain assets of Pemco World Air Services Inc. (PEMCO), including the Boeing 737 freighter conversion Supplemental Type Certificates.

This acquisition is subject to regulatory approvals and customary conditions precedent, and is anticipated to close in July 2012.

VT Aerospace (Vision Technologies Aerospace Incorporated) is the aerospace operations of VT Systems (Vision Technologies Systems, Inc.). A leading aerospace maintenance and engineering division specialising in aircraft engineering design, maintenance and modification, it owns four aerospace operating companies in Mobile, Alabama; San Antonio, Texas and Hartford, Connecticut. It is one of the largest private employers in Mobile, and the largest private independent MRO employer in San Antonio.

VT Systems (Vision Technologies Systems, Inc.) is an engineering company providing integrated solutions to the commercial and government markets in the aerospace, electronics, land systems and marine sectors. Headquartered in Alexandria, Va., VT Systems operates globally and is a wholly owned subsidiary of ST Engineering.

ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of S$5.99b in FY2011 and ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 22,000 employees worldwide, and over 100 subsidiaries and associated companies in 23 countries and 41 cities.

Source/Author: Singapore Technologies Engineering Ltd