September 18, 2012
ST Aerospace establishes new global asset services company
ST Aerospace announced that it has set up a wholly-owned subsidiary, ST Aerospace Rotables (STAR), with paid up capital of US$1.5m (approximately S$1.88m). STAR, a global asset services company, will be headquartered in Singapore with marketing offices in the Americas, EMEA and Asia Pacific. STAR will drive ST Aerospace’s foray into a new growth area, focusing on rotable assets leasing, asset trading, rotables loan and exchange, as well as providing support to the sector’s Maintenance-By-the-Hour (MBH) programme. The new set up is in line with ST Aerospace’s plan to develop and extend its component total support capability, to address evolving market demands. STAR will manage rotable assets for customers, through expert trading and utilisation via loan and exchange. It will leverage ST Aerospace’s brand and expertise to help customers monetise existing assets through its wide range of inventory solutions. Customers would also have access to ST Aerospace’s full suite of total aviation support services. With a network of subsidiaries and associated companies located in strategic hubs around the world, ST Aerospace has a comprehensive maintenance capability for over 25,000 component part numbers with an annual throughput of 85,000 components. It also manages an asset pool of rotables in excess of US$400m and is able to deliver flexible and customised component solutions to customers worldwide.