Singapore Airport Terminal Services Limited (SATS) today increased its stake in Evergreen Airline Services Corporation (EGAS) from 19.21% to 20%, by acquiring 1,240,500 shares in EGAS from Evergreen International Corporation for a total consideration of NTD22.7m (SGD 1.3m).
SATS acquired a stake in EGAS, a joint venture with EVA Airways and Evergreen International Corporation, in July 2000. EGAS provides ramp handling, aircraft interior and exterior cleaning, baggage handling and cabin handling services at Chiang Kai Shek International Airport (CKS Airport) in Taiwan. Its clients include EVA Airways, Singapore Airlines, Qantas Airways and British Airways.
EGAS has recently acquired all the shares of Evergreen Multi-Service Corporation, which provides laundry and office cleaning services to airline and non-airline clients. The consideration for SATS' purchase of an additional 0.79% of EGAS shares was determined based on the resultant net tangible asset value per share of EGAS after the said acquisition.
SATS provides comprehensive ground handling services to SIA and the majority of airlines at Singapore Changi Airport. These services include inflight catering, ramp handling, cargo handling, aircraft interior cleaning, cabin handling, passenger & baggage handling and aviation security services. To-date, SATS has eleven airport ground handling and inflight catering joint ventures in the Asia Pacific region.
For more information, please contact:
MS CAROLYNN LEOW
Singapore Airport Terminal Services Limited
Tel: (65) 541 8140
Fax: (65) 543 2063
e-mail: carolynn_leow@singaporeair.com.sg
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