ST Engineering, a leading performer among the 30 STI component stocks in the past year, is known to be a leading producer of such 40-mm ammunition.
Singapore Technologies Engineering has licensed an ammunitions manufacturer in Poland to produce 40-mm grenades for the European market.
Last October, the Niewiadów Polish Military Group announced plans to spend PLN 67.4 million, or $23.7 million, to build new production capabilities for 40-mm ammunition using technological know-how from ST Engineering Advanced Material Engineering.
