ST Engineering's Land Systems Arm Secures £35m 40mm Ammunition Export Contract
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Singapore, 19 December 2008 - Singapore Technologies Engineering Ltd (ST Engineering) today announced that its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has been awarded a contract of about £35m (S$77.2m) by the UK Ministry of Defence (UK MOD) for the supply of 40mm ammunition. The contract was signed with Advanced Material Engineering Pte. Ltd. (AME), a subsidiary of ST Kinetics. Delivery is planned to begin third quarter 2009 and to be completed in first half of 2011.
The contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
The order from UK MOD is for the supply of 40mm High Velocity High Explosive Dual Purpose (HV HEDP) and High Velocity Flash & Bang (HV F&B) rounds. This order for the HV HEDP rounds is a repeat order of the same type announced in February this year and the HV F&B order was won amidst strong competition.
ST Kinetics has been supplying 40mm munitions to the UK MOD since 2002. Earlier this year in February, ST Kinetics was awarded a contract worth about S$42.5m by the UK MOD for the supply of HV HEDP 40mm munitions.
ST Kinetics is today the world's leading provider of 40mm grenade solutions offering various 40mm grenade launcher weapon systems and an unparalleled range of 40mm munitions including high and low velocity rounds, high explosive munitions, enhanced blast, self-destruct, air bursting, surveillance, insensitive and less-than-lethal rounds.
The contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
The order from UK MOD is for the supply of 40mm High Velocity High Explosive Dual Purpose (HV HEDP) and High Velocity Flash & Bang (HV F&B) rounds. This order for the HV HEDP rounds is a repeat order of the same type announced in February this year and the HV F&B order was won amidst strong competition.
ST Kinetics has been supplying 40mm munitions to the UK MOD since 2002. Earlier this year in February, ST Kinetics was awarded a contract worth about S$42.5m by the UK MOD for the supply of HV HEDP 40mm munitions.
ST Kinetics is today the world's leading provider of 40mm grenade solutions offering various 40mm grenade launcher weapon systems and an unparalleled range of 40mm munitions including high and low velocity rounds, high explosive munitions, enhanced blast, self-destruct, air bursting, surveillance, insensitive and less-than-lethal rounds.
Source: comms@stengg.com
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