SR Technics overhauls group structure
Reorganisation Maintenance firm SR Technics will adopt a new organisation from the start of next month, realigning the company around business processes rather than the current geographic groupings. Under the reorganisation, the group will comprise four business divisions - aircraft services, component services, engines services and business development. The respective heads of these divisions - Alex Kugler, Mike Humphreys, Gerry Timoney and Declan O'Shea - will form the executive board, along with chief executive Hans Lerch and chief financial officer Richard Steiblin. Last month a consortium including Dubai Aerospace Enterprise announced a deal to acquire SR Technics from investment firms 3i and Star Capital.
Aircelle expands thrust reverser lines
Inauguration Aircelle last week opened additional regional and business jet thrust-reverser production lines at its Le Havre factory in France, including one for the system destined to equip the PowerJet SaM 146-powered Sukhoi Civil Aircraft Superjet 100. The new lines will also produce reversers for General Electric CF34 and Rolls-Royce BR710 turbofans - work previously performed at Meudon, near Paris. "This is the first step in our project to consolidate the Le Havre facility's position at the heart of Aircelle's industrial set-up, and to provide increased stability in terms of the workload for our employees," says Aircelle chief executive Jean-Claude Lepage. The Le Havre plant already manufactures thrust reversers for CFM International CFM56 engines for the Airbus A320 family, R-R Trent 500s for the A340-500/600 and Trent 900s and Engine Alliance GP7200s for the A380.
Goodrich to buy back up to $300m of stock
Repurchase The board of aerospace systems supplier Goodrich has approved a plan for the company to repurchase up to $300 million of its common stock. The company expects the buy-backs to occur over a three-year period. "We believe that this share repurchase plan, coupled with our continued focus on operational excellence and organic growth, represents an additional opportunity to enhance shareholder value," says Marshall Larsen, Goodrich chief executive.
Fokker Services grows US MRO footprint
Acquisition Fokker Services, part of Stork Aerospace, has signed a letter of intent with Nasdaq-listed TAT Technologies to acquire a controlling interest (51%) in Piedmont Aviation Component Services and a strategic interest (49%) in Limco Airepair for $38 million. The planned investments are part of Fokker Services' strategy to expand its presence in the growing US aerospace services market and follow its recent acquisition of Airinc. Piedmont overhauls auxiliary power units, landing gears and propellers, while Limco produces and maintains environmental control systems.
Textron swoops for Overwatch
Takeover Textron's Systems unit is buying Overwatch Systems for $325 million. Overwatch provides intelligence analysis tools and communications products for the US departments of defence and homeland security, intelligence agencies and foreign militaries. Textron chief executive Lewis Campbell says the acquisition "complements our precision engagement strategy, adding critical new products to our intelligent battlefield offerings".
Source: Flight International
