The new unit will work on the upgrade and repair of drilling rigs, military, para-military and commercial ships.
Singapore Technologies Engineering’s (ST Engineering) US company, Vision Technologies Systems (VT Systems), has set up the subsidiary ST Engineering Halter Marine and Offshore, in Mississippi, USA with a share capital of $13.62 (US$10).
This new entity is responsible for the upgrade and repair of drilling rigs, military, para-military and commercial ships and marine and industrial engineering work in the US (formerly undertaken by VT Marine).
The setting up of the 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 release said.
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