Umeco boosts composites capacity
Manufacturing UK-based Umeco has boosted its composites manufacturing capacity through its subsidiary Advanced Composites Group with the opening of a £7 million ($13 million) factory in Heanor, UK. The company has invested in new manufacturing and warehouse facilities as well as a new technology centre at its existing site.
UAV maker seeks Nasdaq listing
Offering Military unmanned air vehicle supplier AeroVironment is planning an initial public offering of up to $115 million in common stock. Goldman Sachs & Co will be one of the underwriters of the IPO, according to an offering document filed with the US Securities and Exchange Commission. The company will apply for a Nasdaq listing under the symbol “AVAV”.
GATX disposes of leasing business
sell-off GATX is to sell the majority of its aircraft leasing business to a consortium led by Macquarie Bank, in a deal expected to raise around $500 million. Macquarie Aircraft Leasing (MAL) will buy GATX’s wholly owned aircraft and “seek to acquire assets within the aircraft leasing joint ventures managed by GATX”. MAL will assume assets with a book value of around $1.5 billion. GATX owns more than 100 aircraft, predominantly Airbus A320s and Boeing 737s.
Pemco to sell California unit to new US firm
Disposal Pemco Aviation is selling its subsidiary Pemco Engineers to a new, unidentified US firm. The Chadsworth, California-based unit manufactures cargo loading systems and components for freighter aircraft suppliers.
Meggitt snaps up Keith Products
Takeover Aircraft air conditioning specialist Keith Products has been bought by UK aerospace group Meggitt. Addison, Texas-based Keith Products has designed and produced systems for general aviation customers including Bombardier, Cessna, Eurocopter, Raytheon and Sikorsky. “The acquisition of Keith Products Group adds a high level of expertise in our capabilities to provide compact thermal management systems and components for general aviation,” says John Stobie, president of Meggitt Aerospace Equipment Group.
Rockwell boosts datalinking portfolio
Purchase Electronics and communications company Rockwell Collins is to acquire Anzus, a privately owned software developer that provides high-speed tactical datalink processing and sensor correlation for the US Department of Defense and foreign governments. “Anzus is an innovative company that will enhance Rockwell Collins’ tactical datalink integration solutions, providing software applications that will greatly augment our network-centric operations capabilities,” says Rockwell Collins chairman Clay Jones.
Group to explore Russian links with EADS
Co-operation Russia has agreed with France and Germany to explore the potential for closer co-operation between its aerospace industry and EADS. At a recent summit in Paris, leaders of the three countries gave the go-ahead for a joint working group that will take on this task and entertain viable business proposals. Over the past few months, Russian foreign trade bank Vneshtorgbank (VTB) has bought 5.02% of EADS in a move that ignited speculation about its plans to bid for a blocking stake in the European manufacturer and possibly seek a seat on its board. “We’re not going to use this shareholding for bringing about changes in how EADS is run,” says Russian president Vladimir Putin . “VTB only took advantage of the declined prices for its shares in the securities market.”
Source: Flight International
