Singapore, 12 July 2016 – Singapore Technologies Engineering Ltd (ST Engineering) today updated that further to its announcement made on 20 June 2016, Elbe Flugzeugwerke GmbH (EFW) has completed the incorporation of Aircraft Composites Sachsen GmbH, with an initial paid-up equity of €500,000 (approximately S$765,950).

Based in Kodersdorf, Germany, Aircraft Composites Sachsen will be responsible for the production of lightweight components, mainly comprising floor panels and cargo linings, for single aisle Airbus aircraft.

The setting up of the new company is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.