Singapore Technologies Aerospace (ST Aero) is continuing its expansion in the US market by buying bankrupt Dee Howard Aircraft Maintenance in Texas.
The Singapore-based aerospace maintenance and engineering company says it emerged as the "top bidder" for the assets of San Antonio-based Dee Howard and the purchase will be carried out through US marketing arm Vision Technologies Aerospace.
It says the agreed purchase price is $14.2 million and the deal was expected to have been formally approved by the San Antonio Bankruptcy Court on 29 April.
Dee Howard is based at San Antonio International Airport and was established in 1947. Owned by private equity investment company Code Hennessy and Simmons, it offers maintenance and engineering services for widebody and narrowbody aircraft. The company fell into bankruptcy after the 11 September terrorist attacks in the USA cut sharply into its revenues.
"The proposed acquisition underscores ST Aero's plans to grow its business in the USA," says ST Aero president Tay Kok Khiang.
ST Aero already has a strong presence in the US market, through its ST Mobile Aerospace Engineering unit in Mobile, Alabama, and its DalFort Aerospace unit in Dallas, Texas.
Source: Flight International
