Land Systems - Singapore Technologies Engineering

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operating financial review LAND SYSTEMS SOLUTIONS THAT EXCEED THE COMPETITION As ST Engineering’s land systems arm, ST Kinetics provides an integrated suite of state-of-the-art solutions for the defence, homeland security and commercial markets. Serving customers in over 30 countries worldwide, ST Kinetics’ capabilities cover the entire value chain, including the design, development, production, operation and through-life support of specialised land systems equipment and specialty vehicles. Despite market uncertainties, 2008 saw improvements in ST Kinetics’ performance, largely due to defence export sales. Its defence business continued to perform well during the year, securing several significant orders, most noteworthy of which was the £150m order for Bronco All Terrain Tracked Carriers by the UK Ministry of Defence (MoD). Other key contracts announced were the supply of 40mm ammunition to the UK MoD and the export of the 120mm Super Rapid Advanced Mortar System (SRAMS) to a Gulf States customer. LeeBoy 9000 Wheeled Paver was launched at CONEXPO 2008. Faced with challenging market conditions in the US, the company’s US specialty vehicles business weathered the impact and grew in market share in some product segments. In China, its specialty vehicles companies managed to strengthen operations and profitability. ST Kinetics’ performance, in light of the difficult market conditions, is testimony to its strong capabilities and demand for its products and services. Each of its specialty vehicles companies grew more efficient, flexible and robust. Together with the solid showing of its defence businesses, ST Kinetics has reinforced its position as the premier land systems company in Southeast Asia. Land Systems & Solutions The company participated in various exhibitions during the year, showcasing both its capabilities and products. In February, it participated in India’s DefExpo 2008, where it showcased its automatic assault rifle SAR21 and Ultimax100 light machine gun. In the same month, the company participated in the Singapore Airshow 2008, displaying its range of capabilities for integrated defence solutions, such as the wheeled 8x8 armoured vehicle Terrex and Total 40mm Solutions, and launching its 40mm Low Velocity Air Bursting Munitions System (LV ABMS). The Commercial Singapore Technologies Engineering Ltd ENGAGING IDEAS DELIVERING PROMISES Annual Report 2008 69
Articulated Vehicle (CAV) for disaster relief and the Hybrid Electric Tow Tractor HETT20 were also exhibited. The HETT20 incorporates the latest hybrid electric technologies and is part of ST Kinetics’ offering of green products designed to reduce the emission of greenhouse gases and increase fuel efficiency. Later in June, the company showcased its Bronco Heavy Maintenance Vehicle, SRAMS on Spider Light Strike Vehicle, Total 40mm Solutions, including the 40mm LV ABMS, and Compact Personal Weapon (CPW) at Eurosatory 2008 in Paris, France. ST Kinetics’ specialty vehicles companies have placed greater emphasis on the development of higher margin products, and export sales. In September, ST Kinetics’ joint venture company, Advanced Technology Research Centre, and Nanyang Technological University (NTU), officially opened Southeast Asia’s first research and development centre in cold spray technology. Through the combined strengths of ST Kinetics and NTU, this collaboration aims to use the Cold Spray Research Centre to spin off niche industrial applications; specifically, advanced coatings for enhanced wear resistance, as well as bioactive and anti-bacterial coatings for biomedical applications. Toward the end of the year, ST Kinetics showcased its solutions at two shows in the US. It displayed its full range of 40mm ammunition and the Bronco at Modern Day Marines in Virginia, and at the Association of United States Army Annual Meeting & Exposition in Washington DC, in September and October respectively. The Bronco Heavy Maintenance Vehicle generated much interest at Eurosatory 2008. ST Kinetics launched its 40mm Low Velocity Air Bursting Munitions System at Singapore Airshow 2008. 70
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