Eurocopter bids for Romanian manufacturer
Privatisation Helicopter manufacturer Eurocopter has emerged as the sole bidder for a 65% stake in Romanian aircraft manufacturer IAR Brasov. The EADS subsidiary is already collaborating with IAR Brasov through a joint venture, Eurocopter Romania. IAR Brasov's shares have surged this year on speculation that it would be privatised. The company posted a turnover of about $35 million in 2005.
Loral increases Canadian space activities
Acquisition Loral Space & Communications and its Canadian partner PSP are taking over Telesat Canada in a $2.8 billion deal that includes the assumption of debt. The move will provide an opportunity to "further build Canadian technological presence and export it worldwide", says PSP chief executive Gordon Fyfe. Loral chief executive Michael Targoff says the deal will provide the company with "access for high-growth markets" in satellite services.
India plans aircraft component factory
Manufacturing India's government is planning to acquire 490Ha (1,200 acres) of land to set up an aircraft component manufacturing facility near Bangalore international airport in Bengaluru, according to reports in the local press. Domestic aerospace companies as well as US, Australian and European groups have submitted proposals to establish the factory.
Ametek increases MRO with SAI takeover
Acquisition US-based manufacturer Ametek Aerospace & Defence is boosting its maintenance repair and overhaul (MRO) presence by acquiring Southern Aeroparts (SAI). SAI specialises in MRO for hydraulic, pneumatic and electromechanical components and is forecasting sales of $17 million for 2006. Ametek, whose current capabilities include engine and aircraft monitoring systems, sensors and fluid and fuel monitoring systems, says the acquisition will provide growth opportunities to improve the level of MRO support it can offer its airline customers.
Goodrich efficiency drive revamps units
Reorganisation Goodrich is renaming two of its three business segments and reorganising their 11 subdivisions to align product and technology areas better and simplify its interaction with customers. Chief executive Marshall Larsen says the move will "enhance the efficiency of business operations" and "provide greater opportunities for sharing talent and technologies". The engine systems unit will now be known as nacelles and interior systems and the airframe systems segment will be called actuation and landing systems, but the electronic systems segment's name is unchanged.
Avio proceeds reduce Finmeccanica debt
Strategy Italy's Finmeccanica plans to reduce its debt and improve its cash position with the proceeds from the sale of half of its stake in Avio to the engine manufacturer's new owner, investment fund Cinven. The company now holds a 15% stake in Avio, having sold 30% and immediately reinvested in 15%, and raised €302 million ($399 million) from the transaction. The company says it is also interested in acquiring Avio's space activities. It has further international takeover targets, including the 50% stake in ATR owned by EADS, and other avionics manufacturers.
Source: Flight International
