newstodate.aero
Sep 10, 2012 (newstodate): Singapore-based ST Aerospace is to slim its presence in the Nordic markets.
The company has announced that it has launched a restructuring program involving the Scandinavian operations of its wholly owned subsidiary, ST Aerospace Solutions (Europe) A/S, based at Copenhagen Airport.
In 2005, ST Aerospace entered a JV with SAS as it took 67 of the shares in SAS Component, and this was followed up in 2008 when ST Aerospace took the remaining stake and renamed the now fully-owned company ST Aerospace Solutions (Europe) A/S.
ST Aerospace Solutions will now streamline the utilization and workflow of its three facilities in Copenhagen, Denmark, Oslo, Norway as well as Stockholm, Sweden.
Commencing immediately, the restructuring process will affect some 300 employees across functions, and the entire process is expected to be completed by the third quarter of 2013.
- This restructuring is necessary, given the continued challenging aviation landscape in Europe, marked by weak domestic travel and cargo demand in the region, the company says in a release.
The company has announced that it has launched a restructuring program involving the Scandinavian operations of its wholly owned subsidiary, ST Aerospace Solutions (Europe) A/S, based at Copenhagen Airport.
In 2005, ST Aerospace entered a JV with SAS as it took 67 of the shares in SAS Component, and this was followed up in 2008 when ST Aerospace took the remaining stake and renamed the now fully-owned company ST Aerospace Solutions (Europe) A/S.
ST Aerospace Solutions will now streamline the utilization and workflow of its three facilities in Copenhagen, Denmark, Oslo, Norway as well as Stockholm, Sweden.
Commencing immediately, the restructuring process will affect some 300 employees across functions, and the entire process is expected to be completed by the third quarter of 2013.
- This restructuring is necessary, given the continued challenging aviation landscape in Europe, marked by weak domestic travel and cargo demand in the region, the company says in a release.