ST Engineering buys out S-PRO to fuel landing gear MRO dreams

For a cash consideration of $8.15m.

Aiming to develop its Singapore base as a center of excellence for landing gear MRO, ST Engineering bought out the remaining 50% stake in Singapore Precision Repair and Overhaul, which specialises in the repair and overhaul of aircraft landing gear systems.

According to ST Engineering, S-PRO has audited net assets of $24.4m as of December 2014.

“S-PRO has concurrently signed an agreement with Messier-Bugatti-Dowty, to remain as an authorised service centre for the latter's landing gears installed on turboprops, helicopters and regional jets, as well as wheels, brakes and hydraulic components installed on various aircraft types,” said the statement.

Meanwhile, ST Engineering notes that the acquisition is not expected to have any material impact for the company for the current financial year.