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ST Engineering's new aerospace subsidiary boosts 2Q numbers

Joan Ng
Joan Ng8/12/2016 06:56 PM GMT+08  • 1 min read
ST Engineering's new aerospace subsidiary boosts 2Q numbers
SINGAPORE (Aug 12): ST Engineering reported a 5% increase in revenue and for 2Q2015 to $1.6 billion. Earnings increased 2% to $127.3 million.
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SINGAPORE (Aug 12): ST Engineering reported a 5% increase in revenue and for 2Q2015 to $1.6 billion. Earnings increased 2% to $127.3 million.

Some of the improvement came from Elbe Flugzeugwerke, a new subsidiary of the aerospace unit. Based in Dresden, Germany, Elbe Flugzeugwerke designs and manufactures components for Airbus aircraft. The company became a subsidiary in January this year.

Thanks to contributions from Elbe Flugzeugwerke, revenue for the aerospace business unit increased 20% to $619 million — making it the fastest-growing sector this quarter.

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