MOBILE, Alabama -- Singapore Technologies Engineering Ltd., the parent company of Mobile's ST Aerospace and Pascagoula's VT Halter Marine, said today that Vision Technologies Aerospace Inc., ST Engineering's aerospace arm, has made a $49.7 million bid for the Tampa aerospace maintenance facility and certain assets of Pemco World Air Services Inc., at a bankruptcy auction. <\/p>\n
VT Aerospace would assume selected liabilities estimated at $6.2 million. VT Aerospace holds the aerospace companies of Vision Technologies Systems Inc., the U.S. headquarters of ST Engineering. <\/p>\n
The acquired facility will be held under a newly incorporated entity, wholly owned by VT Aerospace, which will leverage its global maintenance, repair and overhaul network, track record and expertise in aircraft repair and engineering. <\/p>\n
This will be VT Aerospace's third aircraft maintenance facility in the United States. VT Aerospace currently operates ST Aerospace Mobile and ST Aerospace San Antonio. ST Aerospace Mobile employs about 1,500 at Brookley Aeroplex, where it maintains and overhauls large airplanes. <\/p>\n
ST Engineering said in a press release that the Americas region continues to be a significant market for commercial aviation and the acquisition is in line with the company's focus to build on its presence in the Americas, to better support the growing demand for maintenance and engineering solutions. <\/p>\n
The Tampa aerospace maintenance facility consists of about 320,000 square feet of hangar and office space at the Tampa International Airport. The facility is capable of providing maintenance, modification and engineering services for a wide range of aircraft and has annual capacity for about 1.4 million man-hours. It is expected to start operations immediately after closing. <\/p>\n
The acquisition is expected to close in July, pending approval by the U.S. Bankruptcy Court and several other regulatory agencies. <\/p>\n<\/p>\n
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ST Aerospace Mobile parent makes bid for Pemco in Tampa<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" MOBILE, Alabama -- Singapore Technologies Engineering Ltd., the parent company of Mobile's ST Aerospace and Pascagoula's VT Halter Marine, said today that Vision Technologies Aerospace Inc., ST Engineering's aerospace arm, has made a $49.7 million bid for the Tampa aerospace maintenance facility and certain assets of Pemco World Air Services Inc., at a bankruptcy auction. VT Aerospace would assume selected liabilities estimated at $6.2 million Continue reading