ST Aerospace, the aerospace arm of Singapore Technologies Engineering, has signed a joint venture agreement with Tenryu Holdings to set up ST Aerospace Aircraft Seats. The joint venture will have a planned investment of $29.8m. ST Aerospace will own 90% of ST Aerospace Aircraft Seats’ shares, with the remaining 10% to be held by Tenryu.
Based in Singapore, ST Aerospace Aircraft Seats will design and manufacture a range of aircraft seating solutions. The company’s long-term plan includes a series of economy-, business- and first-class seats. It will be marketed as part of ST Aerospace’s global network, working in tandem with the other network members to deliver an integrated cabin interiors offering.
“This new joint venture will allow us to strengthen our foothold in the aircraft product development sphere and add a new dimension to our integrated cabin interiors offering,” said Lim Serh Ghee, president, ST Aerospace. “Through a single trusted provider, airline customers will experience streamlined aircraft downtime during cabin interior reconfiguration, resulting in enhanced operational efficiency.”
“This new joint venture strengthens our partnership with ST Aerospace, with whom we have established a long-standing relationship over the years,” said Norio Fukunishi, president, Tenryu Holdings. “With our combined expertise, we are confident of carrying on with our tradition to deliver state-of-the-art cabin seating solutions to customers worldwide.”
ST Aerospace’s services range from aircraft cabin design engineering and product installation to aircraft modification and maintenance, engineering and certification. In 2012 ST Aerospace also launched Ergo, a range of economy seats, which were developed jointly with Tenryu Aero Component.
Tenryu Group is headquartered in Gifu, Japan. It makes seats for customers including Japanese coach manufacturers, train manufacturers and airlines.