SGGKY Singapore Tech Engineering Ltd (PK)

   By Allison Prang 
 

General Electric Co. (GE) has agreed to sell a Baltimore-based nacelle production firm to a subsidiary of Singapore Technologies Engineering Ltd. for $630 million.

Vision Technologies Aerospace Inc., a subsidiary of ST Engineering, will buy Middle River Aircraft Systems LLC, which makes nacelles for aircrafts. MRA Systems is a subsidiary of GE'S aviation division.

The deal is cash free and debt free, Singapore-based ST said. ST also said the deal will help it "scale up its aerospace abilities."

MRA Systems has about 800 employees. ST has about 22,000.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

September 13, 2018 08:23 ET (12:23 GMT)

Singapore Tech Engineering (PK) (USOTC:SGGKY)
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