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Last Trade - 07/05/21

Sector
Industrials
Size
Large Cap
Market Cap £6.35bn
Enterprise Value £6.99bn
Revenue £3.87bn
Position in Universe 270th / 6094

ST Engineering wins up to $1.9 bln contract to build icebreakers for U.S. Navy

Wed 24th April, 2019 3:19am
SINGAPORE, April 24 (Reuters) - Singapore Technologies
Engineering Ltd  STEG.SI  said on Wednesday it has won a
contract worth up to $1.94 billion to build as many as three
icebreaker ships for the U.S. Navy.
    The U.S. Department of the Navy awarded VT Halter Marine, ST
Engineering's shipbuilding business in Mississippi, a $746
million contract for the detail design and construction of the
U.S. Coast Guard (USCG) polar security cutter, the
Singapore-based company said in a statement.
    The first ship is due for delivery in 2024, said ST
Engineering. It said the contract is worth $1.94 billion,
including options for two more vessels with estimated delivery
dates of 2025 and 2027.
    The United States has two operational icebreakers - the
Polar Star, which is more than 42 years old, and the Healy.
 urn:newsml:reuters.com:*:nL1N1YB2IP
    ST Engineering shares were up 1.6 percent in morning trade
at S$3.82, while the broader market  .STI  was up 0.2 percent.

 (Reporting by Aradhana Aravindan; Editing by Christopher
Cushing)
 ((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net))
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