ST Engrg: Aerospace arm secures $540m worth of new contracts in 1Q2012. These contracts for Aircraft Maintenance and Modification, Component Total Support, and Engine Total Support businesses will be carried out at its global maintenance, repair and overhaul (MRO) network. Specifically for passenger-to-freighter (PTF) conversions, ST Aerospace secured a 15 Boeing 757-200 PTF order.
This follows $880m worth of patrol vessels for Oman from the marine arm and $100m of orders from their electronics arm. ST Engrg now trades at 18.5x trailing P/E with div yield of 4.7%.
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