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).
On 18 April 2019, the Proposed Acquisition was completed at a net consideration of about US$506-million (approximately S$68-million) in cash, subject to post-completion adjustments for debt-like items and working capital.
MRAS is now an indirect wholly-owned subsidiary of ST Engineering, whose aerospace capabilities now include the Original Equipment Manufacturer business of nacelle systems and replacement parts. With the inclusion of MRAS, ST Engineering has greatly boosted its network of facilities in the U.S. to support regional and global customers. Its capabilities in the U.S. ranges from services in airframe maintenance, VIP completions and aircraft interior refurbishment to now nacelle design and manufacturing.
The acquisition of MRAS is expected to be earnings accretive for ST Engineering.