ST Engineering Announces EcoServices Purchase Option

Singapore Technologies Engineering has announced that further to its statement on May 17, 2012 regarding Vision Technologies Aerospace’s investment in EcoServices for a 50.1 per cent equity interest, EcoServices has used the purchase option that it entered into with Pratt & Whitney for the use and acquisition of intellectual property assets with the business. The aggregate cost of the license and purchase option is $25.2m and, once exercised, will allow EcoServices to own, manage and protect its own portfolio of property assets. The option also takes into account licence fee payments already made by the company since initial investment.

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