ST Engineering sells stake in STARCO to JV partner for $124.6m

This comes as part of an ongoing rationalisation of the group’s MRO facilities.

ST Engineering has announced that its wholly owned subsidiary, ST Engineering Aerospace Ltd, has entered into an agreement to sell all of its equity interests in Shanghai Technologies Aerospace Company Limited (STARCO) to China Eastern Airlines Corporation Limited (CEA) for $124.6m, following the conclusion of a 20-year joint venture agreement.

The sale comprises 49% of the equity interests and the corresponding paid-up registered capital of STARCO. Following the divestment, ST Engineering will cease to have any interest in STARCO. CEA, which owns the balance 51% stake as at the date of this announcement, will hold 100% of STARCO post-divestment

STARCO is a joint venture company established in China in 2004 by ST Engineering and CEA. It provides airframe maintenance, repair and overhaul (MRO) services out of facilities in Hongqiao and Pudong in Shanghai, China.

The move is part of ST Engineering’s ongoing rationalisation of MRO facilities, along with the addition of newer and more modern MRO facilities to enhance its operational efficiency and strengthen the group’s competitiveness in the global MRO market.

Follow the link for more news on

ST Engineering

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia