Singapore Market : SATS forms food catering JV with OCS Ventures

Singapore's SATS (SATS.SI) said on Friday its subsidiary has struck a joint venture agreement with OCS Ventures to provide catering services to
companies operating in remote areas worldwide.

SATS Investments, the subsidiary of SATS, will take a 51 percent stake in the joint venture company.

SATS provides ground-handling as well as food-related services, while OCS Ventures is an investment holding company which has interests in the food, energy and business services, as well as technology industries.

During the initial phase of operations, the venture will focus on clients in sectors such as oil and gas, mining, marine, defence, as well as industrial and infrastructure construction, SATS said in a statement.

These clients operate in ASEAN, China, Australia, New Zealand and Papua New Guinea, it said. (The Edge Singapore)