ST Engineering reacts to The Straits Times article

The company has issued a clarification re its aerospace arm.

The statement said:

Singapore Technologies Engineering Ltd refers to The Straits Times' article on 17 September 2012 on the European Commission's clearance of the planned joint control by EADS and Singapore Technologies Aerospace Ltd of Elbe Flugzeugwerke GmbH.

The investment was first announced by ST Engineering on 15 February 2012, and subsequently on 19 May 2012.

ST Engineering wishes to clarify that while its aerospace arm ST Aerospace has received the European Commission's clearance, this approval is one of several conditions that it has to satisfy in its investment in EADS EFW.

ST Engineering will make an announcement when it has satisfied all regulatory approvals and closing conditions pertaining to this investment.