Pteris Global takes over AeroMobiles

The acquisition to enable the company to expand its product range to its global customer base.

Mainboard-listed Pteris Global Limited (“Pteris Global”), an integrated airport logistics system provider, on Tuesday signed a Sale and Purchase Agreement (“S&P”) for the acquisition of 100% of the issued and paid-up capital of AeroMobiles Pte Ltd (the “Acquisition”).

AeroMobiles Pte Ltd (“AeroMobiles”) is a Singapore incorporated company that designs, manufactures and maintains Aircraft Ground Support Equipment (“GSE”) for the aviation industry. Its range of GSE products include the A380 Upper Deck Catering Hi-Lift, Medical Hi-Lift, Passenger Stairs, Maintenance & Services Platform, Aircraft Lavatory Truck, Aircraft Water Servicing Truck and other specialised products. AeroMobiles’ global clientele include major airport operators and airlines such as Singapore Airlines, Gate Gourmet, SATS, Emirates, Qatar Airways, Cathay Pacific and Qantas. AeroMobiles won the Singapore "Enterprise 50 Award for Startup” in 2006.

AeroMobiles’ notable achievements include the development of the A380 Upper Deck Catering Hi-Lift, which was the first to be operated on the Airbus A380 aircraft and the Aircraft X-Ray Robotic Inspection System, which is the first of its kind that is capable of conducting accurate and autonomous radiological NDT (Non-Destructive Testing) on various aircraft, according to a Pteris Global report.

Mr Oon Chong Howe, CEO of Pteris Global commented: “We look forward to adding AeroMobiles’ GSE products and design capabilities to the Group as it will help to broaden our product range and boost our competitive edge. This strategic acquisition will open the door to new business opportunities for Pteris Global to further engage its global customer base.”

The Acquisition will allow the Group to expand its product offering to its global customer base, comprising domestic and international airports spanning across 6 continents and more than 40 countries. In addition to broadening the Group’s product offering, the Acquisition will also yield greater synergies and economies of scale.

The due diligence of AeroMobiles has been completed and the S&P was signed today between Pteris Global and Mr Yeoh Phee Eng, who currently holds 88% of the issued share capital of AeroMobiles and Mr Alvin Ho Wei Chon, who holds the balance of 12%.

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