SINGAPORE (July 12): ST Engineering’s aerospace arm, ST Aerospace, has won $770 million worth of contracts in the second quarter.

The projects include airframe cabin interiors maintenance, engine wash, component repair and overhaul, line and heavy airframe maintenance for commercial airlines and military operators, as well as cabin interior modifications.

ST Aerospace also signed an agreement with a European airline to provide exchange and repairs of nacelle components on the Boeing 787, while securing landing gear work for a military operator.

Meanwhile, ST Aerospace’s subsidiary Elbe Flugzeugwerke (EFW) has incorporated a new subsidiary, Aircraft Composites Sachsen, with an initial paid-up equity of €500,000 ($749,000). EFW is a 55:45 joint venture between ST Aerospace and Airbus Group.

Aircraft Composites Sachsen will be based in Kodersdorf, Germany, and will be involved in the production of lightweight components like floor panels and cargo linings for single aisle Airbus aircraft. Its new facility is expected to supplement EFW's existing production line in Dresden, Germany, as the latter expands its component production business.

The new facility, with a planned investment of about €40 million, will occupy a land area of 30,000sqm and house a component manufacturing factory with new equipment and tooling.  Component production is expected to commence by 1H2018 and will create about 100 new jobs by end-2018.

Shares of ST Engineering closed 1.2% higher at $3.32 on Tuesday.