March 18, 2015
ST Aerospace establishes new joint venture for aircraft seating solutions
ST Aerospace has signed a joint venture agreement with Tenryu Holdings to set up ST Aerospace Aircraft Seats (ST Aerospace Aircraft Seats). The joint venture will have a planned investment of US$29.8m. ST Aerospace will own 90% of ST Aerospace Aircraft Seats’ shares, with the remaining 10% to be held by Tenryu. Based in Singapore, ST Aerospace Aircraft Seats will be responsible for the end-to-end design and manufacturing of a range of aircraft seating solutions. The company’s long-term business roadmap will include a series of economy class, business, as well as first class seats. It will be marketed as part of ST Aerospace’s global network, working in tandem with the other network members to deliver an integrated cabin interiors offering. ST Aerospace Aircraft Seats will leverage both ST Aerospace’s and Tenyru’s rich experience in the aerospace industry, to produce innovative seating solutions which are both aesthetically and technically viable.