ST Engineering's aerospace arm will not proceed with acquisition of PEMCO

Singapore, 6 August 2012 – Singapore Technologies Engineering Ltd (ST Engineering) announced today that further to its announcement on 18 June 2012, Vision Technologies Aerospace Incorporated (VT Aerospace) and Pemco World Air Services Inc. (PEMCO) have agreed to terminate their asset purchase agreement whereby VT Aerospace intended to acquire PEMCO’s Tampa aerospace facility and certain other assets. The decision to terminate the agreement was made after certain closing conditions could not be fulfilled by the seller prior to the closing deadline.