Add Advertisement

Mon Tue Wed Thu Fri Sat Sun
 
1
 
2
 
3
 
4
 
5
 
6
 
7
 
8
 
9
 
10
 
11
 
12
 
13
 
14
 
15
 
16
 
17
 
18
 
19
 
20
 
21
 
22
 
23
 
24
 
25
 
26
 
27
 
28
 
29
 
30
 
31
 
 
 
 
Previous
Profile
Next
Profile

ST Engineering and IAI Set Up JV to Market Advanced Naval Missile Systems

07/16/2020

Singapore Technologies Engineering Ltd (ST Engineering) today announced that its land systems arm has signed an agreement with Israel Aerospace Industries Ltd (IAI) to set up a joint venture company (JV) in Singapore. ST Engineering and IAI shall each hold a 50% share of the JV.

 

The JV, named Proteus Advanced Systems Pte Ltd, will leverage the strengths and track record of its parent companies to market and sell advanced naval missile systems, including a next generation anti-ship missile system.

 

The setup of this JV 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.

 

 

ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in the defence, government and commercial segments in more than 100 countries. With more than 500 smart city projects across 70 cities in its track record, the Group continues to help transform cities through its suite of Smart Mobility, Smart Security and SmartEnvironment solutions. Headquartered in Singapore, ST Engineering reported revenue of $6.7b in FY2018 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, SGX ESG Transparency Index and SGX ESG Leaders Index.

 

 

Israel Aerospace Industries

 

IAI Ltd. is Israel’s largest aerospace and defense company and a globally recognized technology and innovation leader, specializing in developing and manufacturing advanced, state-of-the-art systems for air, space, sea, land, cyber and homeland security. Since 1953, the company has provided advanced technology solutions to government and commercial customers worldwide including: satellites, missiles, weapon systems and munitions, unmanned and robotic systems, radars, C4ISR and more.  IAI also designs and manufactures business jets and aerostructures, performs overhaul and maintenance on commercial aircraft and converts passenger aircraft to refueling and cargo configurations.

Date: 
07/16/2020
Countries: 
Sources of Information:  ST Engineering

Publish News & Press-Releases, Company Profile, Products and Services on ARMSCOM.net. Email to armscom.net@gmail.com.