STA Engines Injects Capital Into TEAM

ST Aerospace subsidiary ST Aerospace Engines (STA Engines) is to inject its pro rata share of an additional US$2.81m into the capital of its 50 per cent jointly controlled company, Total Engines Asset Management (TEAM). The funding is intended to support the expansion of the engine leasing business to include the International Aero Engines V2500 engine into its portfolio.  The capitalisation exercise will be performed in two stages – the first phase amounting to $1.40m injected immediately and the second injection of $1.41m on October 16, 2013. It will bring STA Engines’ total share capital contribution in TEAM to $11.02m.

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