ST Engineering forms subsidiary in Chongqing

It will support its metro rail and building management projects in China.

ST Engineering said that its electronics arm ST Electronics has set up a subsidiary, ST Electronics (Chongqing) Co. Ltd (ST Electronics Chongqing).

The paid-up capital for the new subsidiary established in the New Liangjiang Area, Chongqing, will be $10m (RMB50m).

"The subsidiary set-up will enable the Group’s electronics sector to provide better local support for its metro rail, intelligent transportation, and intelligent building management projects in Chongqing, and other parts of China as it expands its presence there," ST Electronics said.

ST Electronics is on a roll, as it has clinched about $742m worth of contracts in the fourth quarter of 2017. The contracts covered Rail Electronics & Intelligent Transportation, Satellite & Broadband Communications, as well as Advanced Electronics and Information Communications Technologies (ICT) solutions.