Stellex buy boosts GKN's civil business
Results UK-based GKN's aerospace division is looking forward to strong growth in civil aerospace in the short term, as well as solid demand for military products, after posting a 30% increase in trading profit to £70 million ($138 million) for 2006, as well as an 11% increase in sales (see graph) and improved productivity. GKN says strong aerostructures activity, particularly in composites and in its engine nacelles and transparencies business, boosted performance. Stellex Aerostructures, which GKN bought last year, upped its civil exposure, in particular on the Boeing 787 and 777 programmes. Around 42% of GKN's sales come from the civil sector.
Doncasters increases US presence
Acquisition UK-based Doncasters is expanding its footprint in the US market by acquiring fastener and precision components manufacturer FastenTech for $492 million. Minneapolis-based FastenTech employs 1,800 people and was owned by Citigroup Venture Capital.
UK steps up composites consolidation
Strategy Composites specialist Express Technologies is expanding its product offering with the acquisition of Racing Technologies Norfolk from Audi. The company is building a new site near its existing premises in Norfolk to house the expanded group, which can now offer design and consultancy as well as low- to medium-volume engineering and manufacturing of composite components. Express, which supplies Airbus, BAE Systems, Boeing, Bombardier, EADS and Rolls-Royce, is now targeting acquisitions in the marine, defence and telecommunications sectors.
Avio seeks further acquisitions
Earnings Italian engine manufacturer Avio is looking for acquisition opportunities in Europe and the USA to gain critical mass and boost its production volumes, according to chief executive Saverio Strati. The company posted a 10% increase in 2006 preliminary sales, to €1.4 billion ($1.84 billion). Earnings increased from €255 million to €290 million in 2006. Avio has a €4 billion backlog, and with Eurofighter Typhoon-related work increasing, is soon expecting to offset the termination of its contract for maintenance and overhaul of the Italian Lockheed F-104 fleet's J79 engines.
Lockheed Martin reorganises units
Restructure Lockheed Martin is realigning some of its business areas and making changes to its management team. The company says the moves will "enhance support for critical customer missions" as well as increasing "integration of resources in areas of solid growth potential". The company is combining most parts of its Integrated Systems & Solutions and Information Technology and Global Services as Information Systems & Global Services, to be led by Linda Gooden.
Donaldson adds to filtration products
Purchase Air and liquid filtration specialist Donaldson is adding to its aerospace and defence product range with the acquisition of Aerospace Filtration Systems (AFS) for an undisclosed sum. The companies have been working together on applying Donaldson's media technology to AFS's military and commercial aircraft systems and will be able to combine their product offerings further.
Source: Flight International
