Sikorsky completes Mielec acquisition
Purchase US-based helicopter manufacturer Sikorsky has finalised its acquisition of Poland's PZL Mielec from the Polish government. Sikorsky president Jeff Pino says the deal marks "a major step toward establishing the foundation for our European operations". The company intends to begin modernising the 110,000m2 (1.2 million ft2) facility in April to allow it to support international Black Hawk helicopter production while maintaining its current aircraft design, manufacture, flight test and delivery capability.
Stork continues US push with Aerotron deal
Strategy Stork subsidiary Fokker Services is planning to acquire US maintenance, repair and overhaul specialist Aerotron AirPower for an undisclosed sum. Georgia-based Aerotron specialises in work on pneumatic, hydraulic, fuel and electromechanical components for Airbus, Boeing, Bombardier and Embraer aircraft. The Netherlands-based company says the deal gives it a platform for further growth and is "part of the strategy to expand its position in the growing US aerospace services market". Fokker Services bought Alabama-based overhaul company Airinc in 2006, but a deal to purchase TAT Technologies subsidiaries Piedmont Aviation Component Services and Limco Airepair fell through earlier this year.
Eaton finalises Argo-Tech buy
Acquisition US-based manufacturer Eaton has completed its purchase of AT Holdings, which owns aerospace fuel system maker Argo-Tech, from private equity companies Greenbriar Equity and Vestar Capital Partners. The deal, which was previously valued at $695 million, does not include AT Holdings' cryogenics and other non-aerospace businesses.
Honeywell to close aircraft parts plant
Manufacturing US-based manufacturer Honeywell is planning to shift production of aircraft parts including flight-control equipment and cockpit displays to its facility in Albuquerque as it shuts down its underused Teterboro, New Jersey plant. Engineering and office workers will move to the company's nearby headquarters over the next one or two years. The company is not disclosing how many jobs will be lost as part of the move, under which it will sell the Teterboro site to a property development group.
Cabin interiors boost Zodiac revenues
Results French aerospace supplier Zodiac's first-half revenues for the six months to 28 February rose 8.5% to €1.2 billion ($1.6 billion), as strong organic growth in its key aeronautics business offset the negative impact of the weak US dollar. Growth was particularly strong in the company's cabin interiors segment, which now generates more than half of Zodiac's aeronautical revenues. Sales in the division grew more than 14% to €463 million in the first six months.
EC to probe aid to Spain's ITP
Investigation Spanish engine manufacturer ITP is facing European Commission scrutiny over the Spanish government's plan to lend it €27 million ($36 million). The EC is investigation whether the loan, which is being made to help ITP develop a low-pressure turbine for the Rolls-Royce Trent 1000 engine for the Boeing 787, contravenes European Union regulations. The commission previously approved state aid to ITP for work on the Trent 500 and 900 engines.
Source: Flight International
