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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

FMC Chairman Applauds USCG Statement on Container Weights

Federal Maritime Commission (FMC) Chairman Mario Cordero commended the Coast Guard for issuing a bulletin last week regarding container weights that he hopes allows

Oil Turns Lower after US Crude Build

A bigger-than-expected build in U.S. crude inventories to fresh record highs pushed oil markets lower on Wednesday after an early rally over concerns about production

Port of Vancouver CEO Coleman to Step Down

Todd Coleman, CEO of Port of Vancouver USA, step down from his position May 19, after 15 years with the port.   Coleman, a Professional Engineer, began his career with the port in 2001,

Software Solutions

SENER, ESI Group to Integrate Solutions

The global company ESI Group, a virtual prototyping and testing software developer, has joined efforts with SENER, a company in marine engineering and the development

Logimatic Launches 3D Vessel Performance Management Service

Logimatic has expanded the vessel reporting system and dynamic dashboards within its Sertica software package, to provide an improved level of visual presentation

TGS, PGS Team Up on Eastern Canada Seismic

TGS announces the expansion of its multi-client library offshore Eastern Canada with plans to acquire more than 36,000 km of 2D seismic data, in partnership with PGS,

Mergers & Acquisitions

Bureau Veritas Acquires TMC Marine

Bureau Veritas has acquired international consultancy TMC Marine Ltd.    TMC has provided pre- and post-casualty advice and support to the marine industry since 1979.

Maersk Mulls Acquisitions after Surprising Profit

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter,

Container Market - Between a Rock and a Hard Place

The pain of the current container market downturn extends beyond carriers, says Drewry's Container Insight Weekly.    Some independent ship-owners are faced

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0744 sec (13 req/sec)