ST Engineering completes MRAS acquisition
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Singapore Technologies Engineering Ltd (ST Engineering) has completed an acquisition by its US subsidiary, Vision Technologies Aerospace Incorporated, of a 100 percent ownership in MRA System LLC (MRAS).
On18 April 2019, the Proposed Acquisition was completed at a net consideration ofabout US$506-million (approximately S$68-million) in cash, subject topost-completion adjustments for debt-like items and working capital.
MRASis now an indirect wholly-owned subsidiary of ST Engineering, whose aerospacecapabilities now include the Original Equipment Manufacturer business of nacellesystems and replacement parts. With the inclusion of MRAS, ST Engineering hasgreatly boosted its network of facilities in the U.S. to support regional andglobal customers. Its capabilities in the U.S. ranges from services in airframemaintenance, VIP completions and aircraft interior refurbishment to now nacelledesign and manufacturing.
Theacquisition of MRAS is expected to be earnings accretive for ST Engineering.
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