ST Engineering Secures SGD$543 Mln Contract
Singapore's ST Engineering said on Tuesday that one of its unit has been awarded a contract to buy aircraft and equipment worth SGD$543 million (USD$411.4 million).
The unit, ST Aerospace, will buy 12 M346 aircraft and a ground based training systems for training of fighter pilots of the Singapore Air Force in France.
Italy's Alenia Aermacchi, a unit of Finmeccanica, will supply the planes while Boeing will supply the ground based training system.
The delivery of the first aircraft is expected in 2012, ST Engineering said in a statement.