ST Engineering Injects Capital into Xiamen Engine MRO Joint Venture

Singapore Technologies Aerospace, through wholly owned subsidiary ST Aerospace Engines, will be injecting a pro rata share of $20.8 million as additional capital into its Xiamen-based engine MRO joint-venture company, ST Aerospace Technologies (Statco). The planned capital injection is subject to regulatory approvals by the Chinese authorities. Upon transfer of the funds, STA Engines’ total share capital contribution in Statco will stand at $41.6 million. Statco provides MRO and support services for the CFM56-7B engines that power the Boeing 737.