Published:
ST Engineering completes incorporation of component manufacturing subsidiary
It has issued an initial paid-up equity of $765,950.
The engineering firm has successfully incorporated Aircraft Composites Sachsen GmbH with an initial paid-up equity of €500,000.
According to a press release by ST Engineering, Aircraft Composites Sachsen will be responsible for the production of lightweight components, mainly comprising floor panels and cargo linings, for single aisle Airbus aircraft.
“The setting up of the new company 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,” the press release said.
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