ST Electronics Establishes Brazilian Subsidiary

By Joseph R. Fonseca
Sunday, July 13, 2014

 

Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has set up a subsidiary, ST Electronics do Brasil Serviços e Soluções em Sistemas Eletronicôs Ltda, in Brazil.

ST Electronics holds 99% stake in the new subsidiary, with the remaining 1% stake held by its wholly owned subsidiary, ST Electronics (SatCom & Sensor Systems) Pte. Ltd.  ST Electronics do Brasil Serviços e Soluções em Sistemas Eletronicôs Ltda, based in Sao Paulo, will have a paid up capital of US$2m (about S$2.55m). 

Brazil is an important emerging economy and the setting up of the Brazilian subsidiary marks an important step forward in ST Electronics’ marketing strategy for entry into that market. ST Electronics has identified opportunities for potential growth in Brazil.

With a local presence there, ST Electronics will be able to work more closely with in-country partners, pursue potential projects and respond quickly to opportunities that will arise, such as those urban solutions relating to large scale electronics systems like intelligent transport and metro rail.

The setting up of the new subsidiary is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

ST Electronics

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

PES to Begin Operating Benzene Terminal in November

Philadelphia Energy Solutions plans to start operating a new benzene offtake terminal next month at its 335,000-barrel-per-day refinery in Philadelphia, two people familiar with the plans said.

Coast Guard Foundation to Honor USCG in Miami

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Sunken Barge Salvage Stops Traffic on Chicago River

The U.S. Coast Guard said it is restricting vessel traffic on the Chicago River to allow for salvage of a sunken barge. All cargo has been removed from the sunken

Software Solutions

Northrop Grumman Sponsors Maritime RobotX Challenge

Northrop Grumman Corporation is expanding its support for science, technology, engineering and math (STEM) education across the globe by sponsoring the Maritime RobotX Challenge in Singapore, Oct.

New Bahamas Northwest Chart Set Upgrade

nv charts announces the release of its newly updated chart set for Region 9.1, Bahamas Northwest, including Bimini and Berry Islands, Nassau to Abaco, and Grand Bahama,

SSI's PublisherLT Webinar Postponed

Due to illness of one of the presenters, SSI's free webinar on its EnterprisePlatform PublisherLT software has been postponed by one week to Wednesday, October 22, 2014 at 8 a.

Mergers & Acquisitions

B COOL Acquires MEMAC

With the acquisition of MEMAC, B COOL A/S now offers customers one entry to multiple maritime systems – both refrigeration solutions and monitoring of the engine

TRIYARDS Buys into Aluminium Shipbuilding Expertise

TRIYARDS Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) industry, has added new capabilities, products

Salamander Energy Updates on SONA Transaction

Salamander Energy said it has submitted a draft shareholder circular to the Financial Conduct Authority in relation to previously stated plans to divest of an interest in the Greater Bualuang Area.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0953 sec (10 req/sec)