ST Aerospace Completes EADS EFW Investment

ST Aerospace says it has completed its investment of 35 per cent equity interest in Elbe Flugzeugwerke (EADS EFW). The move was originally announced on May 19, 2012. The MRO will begin the A330P2F engineering development phase in February this year; EADS EFW will now serve as ST Aerospace’s European maintenance, repair and overhaul centre. The Dresden-based aircraft production organisation has capabilities which include passenger-to-freighter conversions; aircraft maintenance and repair; and engineering services. It also manufactures and supplies composite flat sandwich panels to Airbus. ST Aerospace said the investment would not have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

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