Why ST Engineering’s land system business is on the mend

It'll expand its presence in Brazil.

According to OSK, with the pickup in the global economic outlook, it expects ST Engineering’s land system business to get back on the growth track next year.

Here's more:

Through the acquisition of manufacturing assets, intellectual property and relevant manufacturing expertise from Ticel Equipamentos Ltda, a Brazilian construction equipment firm, ST Engineering's land systems arm will be able to expand its presence in the Brazilian market.

The total consideration is expected to be approximately SGD9.2m and the group has set up a wholly owned subsidiary in Canoas, Brazil named LeeBoy Brazil with a paid-up capital of SGD10.8m for this.

The new entity will provide manufacturing support to the group's LeeBoy brand of road construction equipment to tap Brazil's booming infrastructure market. We are positive on the move and expect this new subsidiary to provide significant support to the group's land system business in the long run.

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