Asia-Pacific growth boosts Aero Inventory
Results Inventory management specialist Aero Inventory is targeting overseas expansion after posting strong results for the first half (see graph), largely as a result of the impact of a contract signed with Qantas last October. The UK-based company is in the process of setting up a facility in Australia to support the Qantas contract, and plans to set up a facility in Los Angeles, California in the second half of its financial year. The company has also boosted its capacity in the Hong Kong market.
Nammo targets US growth with Talley buy
Acquisition Scandinavian missile and ammunition specialist Nammo is aiming to boost its presence in the US market with the purchase of Talley Defense Systems, and is considering expanding the US company's expertise in aircrew escape systems "quite significantly", says Erland Paulsrud, president of Norway's Nammo Raufoss. The deal is expected to close by the end of March. Arizona-based Talley, which posted revenues of $62.6 million in 2005, will operate as a standalone division alongside Nammo's existing four divisions.
Aviation trading platform to be set up
Launch A US company that provides capital asset auction and valuation services to several industries is launching an online exchange for the aviation market at the beginning of May. According to Los Angeles-based DoveBid, the exchange will enable people to buy and sell all aviation-related equipment, including ground support and handling equipment all types of aircraft and supporting assets aircraft parts engines and engine parts heavy machinery and test equipment.
Latécoère positions itself for composites
Factory French aerospace equipment supplier Latécoère is planning to establish a second primary composite structures factory to capitalise on the opportunities created by Airbus's restructuring. In 2006 Latécoère's revenues rose by 22% to reach €433 million ($569 million), boosted by prompt development work invoicing and increased Embraer, Airbus and Dassault Falcon 7X deliveries. However, the company says that delays to the A380 and Falcon 7X, composite materials research and increases in the price of raw materials weighed on its costs, and earnings fell 8% to €34.7 million. Latécoère aims to become a major partner on the A350 XWB and a key player in the composite primary structures sector.
China Minsheng Bank looks to leasing
Strategy Privately owned Chinese financial institution China Minsheng Bank is considering entering the aircraft finance leasing business and is in the process of speaking to potential partners. The bank's chairman Dong Wenbiao reportedly said in Beijing last week that the bank would partner European airframer Airbus. "Our chairman's statements to journalists were just that it is our intention," says a bank official. "Every financial institution's intention in China is to do more and not just focus on traditional banking, but get more involved in asset management," he adds. Airbus China was unable to confirm any talks with China Minsheng. Over the past year the Chinese government has been encouraging Chinese firms to establish aircraft leasing ventures to prevent the market being dominated by foreign companies such as GE Commercial Aviation Services and International Lease Finance.
Source: Flight International
