Friday, February 19, 2010

ST Engineering profits down

Singapore Technologies Engineering said profit fell 6 percent for the year as the firm's aerospace division struggled with the worldwide recession. Profit fell to $314.5 million while revenue grew 4 percent for the year to $3.93 billion. The company is the parent of ST Aerospace Mobile, which employs 1,300 at Mobile's Brookley Field Industrial Complex in Alabama, and VT Halter Marine, which employs 1,100-plus at shipyards in Pascagoula, Moss Point and Escatawpa, Miss. (Source: Mobile Press-Register, 02/19/10)