Cobham snaps up Patriot Antenna Systems
ACQUISITION Cobham is further boosting its US footprint with the agreement to acquire Patriot Antenna Systems in a deal worth a potential $45 million. The transaction is expected to be completed in the third quarter of the year. Cobham chief executive Allan Cook says the deal provides a "product, technology and capability set that we can exploit across our antennas business, particularly in the growing US government and military satellite on the move markets". Nearly half of the company's revenues come from the USA (see graph).
MTU expands into Poland
GROWTH Germany's MTU Aero Engines is planning to set up a new engine components plant in Rzeszow, south-east Poland. MTU Aero Engines Polska, in which MTU is investing €50 million ($67.5 million), will focus on parts for low-pressure turbines. Chief executive Udo Stark says that the move is not simply a strategy to transfer work to the low-cost environment of Poland. "The new location already has a well-developed industrial environment that includes other aviation companies and a large potential of qualified skilled workers," he says, adding: "Our major goal is to generate further growth through this new location. Our high-tech activities will remain in Germany." Production at the site is scheduled to begin in 2009, subject to approval by MTU's supervisory board. The site's initial workforce of 100 is expected to quadruple by 2012.
MROs team up for engine components repair
JOINT VENTURE Airfoil Technologies International and Snecma Services are teaming up to provide aeroengine component repair services in the USA. The new joint venture, Propulsion Technologies International, will be located in the Miami facility formerly known as Propulsion Technology.
GE plans Mississippi components facility
MANUFACTURING General Electric is planning to break ground at its new Mississippi engine components factory in August. The facility is expected to be operational in early 2009 and the company plans to have a workforce of more than 100 in the first 18 months of operation at the site.
ABN Amro makes Dunlop investment
EQUITY Dutch bank ABN Amro's private equity division ABN Amro Capital is acquiring a controlling stake in UK-based Dunlop Aircraft Tyres. The bank is buying a 74.6% stake for an undisclosed sum. The company supplies tyres for Airbus, Boeing, Bombardier and Embraer aircraft, smaller regional aircraft, general aviation aircraft and rotorcraft as well as military aircraft. The bank says its new acquisition "occupies an important niche within aerospace, with a highly defensible position".
Bridgepoint buys components manufacturer
PURCHASE Private equity investor Bridgepoint is taking over aerospace components manufacturer Global Design Technologies (GDT) from another equity investor, Stirling Square Capital Partners, in a $343 million deal. GDT was formed two years ago with the combination of France's Permaswage and USA-based Deutsch Metal Component following management buyouts. Ahmad Diba, who will take over as the company's chief executive once the deal is complete, says GDT's outlook is good because its products are present on an increasing number of new aircraft programmes. The investment will "allow us to consolidate the progress we have made in the last two years," according to Diba.
Source: Flight International
