Business aviation boosts K&F sales
Results US-based K&F Industries posted strong third quarter results on the back of robust demand, particularly in the business jet and defence sectors. The results, including the largest single quarter of sales in its history, "further validate the soundness of the K & F business model and our strategy to establish leadership positions within the regional jet, business jet and military markets", says chief executive Ken Schwartz. He says K&F should continue to grow its earnings and reduce its debt for the rest of this year and 2007.
Triumph boosts aerospace presence
Acquisition Triumph Group is boosting its aerospace business with the acquisition of Allied Aerospace Industries for an undisclosed sum. The new business, which will operate as Triumph Aerospace Systems as part of the Aerospace Systems Group, is expected to add around $19 million to the company's revenue for the rest of 2007 and give an immediate boost to earnings. The company specialises in systems engineering, conceptual engineering, mechanical design and analysis, prototype and limited-rate production, and instrumentation assembly and testing services.
Czech Airbus supplier output soars
Manufacturing Output at Czech Republic-based Znojemské Strojírny, which began supplying Airbus earlier this year, has grown by more than 50% as Airbus more than compensates for delays to the A380 by ordering parts for other aircraft types. The Czech company also expects to take on other Airbus production contracts. Znojemské Strojírny manufactures almost 100,000 components a year for the A321 and Embraer 170. Under the A380 contract, within five years it was to be an exclusive supplier of 21 parts, making 60,000 components per year.
AAI Services to buy engine repair specialist
Expansion United Industrial (UIC) subsidiary AAI Services is to acquire Texas-based military helicopter engine overhaul specialist and Honeywell and Goodrich service centre McTurbine for $31 million from M International. McTurbine posted revenues of around $24 million last year and is expected to give an immediate boost to UIC's operating results.
Russia sets out UAC structure
Strategy Russia's Unified Aircraft (UAC) is up and running after a government commission endorsed its charter, functions and structure, and is to be chaired by Russian defence minister and deputy prime minister Sergei Ivanov. The organisation will have state shareholdings in Russian aerospace companies Tupolev, Ilyushin, Sukhoi and Irkut, Sokol, AviaExport, Ilyushin Finance and Finance Leasing. Estimates by accountants Deloitte & Touche value assets incorporated into UAC at around $4 billion. It is expected to build an orderbook of up to Rb500 billion ($18.6 billion) over the next five years.
Northrop Grumman boosts C4ISR reach
Takeover Northrop Grumman is paying around $580 million to increase its presence in the C4ISR sector with the acquisition of signal processing and opto-electronic imaging specialist Essex. The deal is expected to close in the first quarter of next year, but will not be accretive to Northrop Grumman's earnings until 2008.
Source: Flight International
