ST Engineering's aerospace arm purchases all Turbo Mach assets

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In a release, Singapore Technologies Engineering Ltd (ST Engineering) announced that ST Aerospace San Antonio, L.P. (STA San Antonio) has acquired substantially all of the assets of Turbo Mach, LLC (Turbo Mach), for a purchase consideration of US$250,000 (approximately S$308,500). This purchase, which was signed and completed today, will transfer Turbo Mach’s existing contracts, equipment, inventories, key employees, as well as its trade names ‘Turbo Mach’, ‘Turbo Mach R&D’, ‘Turbo Liner’ and ‘NAAS Composite Technologies’ to STA San Antonio.

Based in San Antonio, Texas, Turbo Mach is a designer and manufacturer of composite components and assemblies for the aerospace industry.

Following the acquisition, the purchased business will operate as a division of STA San Antonio. It will be immediately processing customer transactions with substantially the same personnel, with a seamless transition anticipated. STA San Antonio is a subsidiary of Vision Technologies Aerospace Incorporated (VT Aerospace). VT Aerospace, which owns five aerospace operating companies in Mobile, Alabama; San Antonio, Texas; Burlington, Washington and Hartford, Connecticut, is a subsidiary of Vision Technologies Systems, Inc. (VT Systems), the US headquarters of ST Engineering.

The consideration was arrived at, after negotiations between the parties, taking into account Turbo Mach’s past performance and fair market value of its assets.

The asset acquisition is in line with the focus of the Group’s aerospace sector to develop its manufacturing and repair capabilities to support the current and the next generation of aircraft. With its strengths in composite manufacturing, the new business will enhance the sector’s aircraft cabin refurbishment business with a robust suite of cabin interior services.