By P.R. Venkat

SINGAPORE--Singapore Technologies Engineering Ltd. (S63.SG) said Friday it will likely cut 300 jobs at its Scandinavian operations as part of a restructuring exercise.

The company said in a filing to the Singapore Exchange it is undertaking a restructuring of its unit ST Aerospace Solutions (Europe) A/S to help it cope with challenges arising from weak domestic travel and cargo demand.

"ST Aerospace needs to take steps to manage its cost structure and work processes in order to maintain its position in the European market," the statement said.

As part of the restructuring, the European unit will streamline workflow at its three facilities in Copenhagen, Oslo and Stockholm. The restructuring exercise is expected to be completed by the third quarter of 2013.

ST Aerospace Solutions is involved in aircraft-component repair, management and logistics services. ST Engineering said it remains committed to its presence in Europe.

The Singaporean company said its European unit is working with trade unions and employee representatives to offer outplacement programs to affected workers.

Write to P.R. Venkat at venkat.pr@dowjones.com

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