Elbe Flugzeugwerke is now ST Aerospace’s subsidiary.
ST Aerospace establishes a center for its passenger-to-freighter conversions, aircraft maintenance, and repair and overhaul as it completes its investment of an additional 20% equity interest in German aerospace parts firm Elbe Flugzeugwerke GmbH (EFW).
According to a press release from ST Engineering, following the completion, EFW is now a subsidiary of ST Aerospace, with the latter owning 55% of the shareholding and Airbus Defence and Space GmbH (Airbus) holding the remaining 45%.
“The additional investment saw the launch of the collaboration in June 2015, between Airbus, EFW and ST Aerospace for the A320/A321P2F passenger-to-freighter (P2F) conversion programmes,” the press release said.
“The investment is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year,” it added.
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