Spirit to make composites in Malaysia
Expansion US aerostructures maker Spirit AeroSystems has firmed up an agreement with Malaysia's national airport operator to lease land at Kuala Lumpur's secondary Subang airport, where Spirit will be establishing its first facility in Asia. The facility will initially produce a number of composite aerospace wing subassemblies for commercial aircraft and will operate as Spirit AeroSystems Malaysia. When fully operational, it will employ in excess of 450 employees.
Finmeccanica builds defence electronics
Acquisition Finmeccanica is to buy London Stock Exchange-listed engineering and technology consulting services firm Vega for £61.6 million ($124.9 million) subject to approval by shareholders and UK authorities responsible for national defence. Chief executive Pier Francesco Guarguaglini says the deal will "considerably strengthen" Finmeccanica's UK market presence in defence electronics. Main programmes in which Vega is involved include Eurofighter, the Galileo satellite navigation system and Watchkeeper.
FAC marks six-month GULF success
Promotion A pilot scheme by the Farnborough Aerospace Consortium (FAC) to promote southern England-based aerospace companies in the Gulf has resulted in orders worth several million US dollars in only six months of operation. The FAC's UAE Emirates Towers' office, which is home to 10 member companies, was opened in June 2007 and a second office has now been opened in Abu Dhabi. According to regional business development director John Ellis: "Our target is to have 35 companies based within our offices to ensure all aspects of the aerospace industry are covered."
Strong half year for Aerovironment
Results Unmanned aircraft and efficient electric energy systems maker AeroVironment boosted both revenue and pre-tax profits for the six months to 27 October by a third to $102.9 million and $13.5 million respectively. In the unmanned aircraft division, revenue grew by 41% to $88.5 million. Chief executive Tim Conver says: "Raven and Wasp are our key small [unmanned] supporting programmes of record. The number of these systems deployed around the world continues to increase as they regularly provide cost-effective force protection where they are employed."
Montenegro to sell off flag carrier
Privatisation The government of Montenegro has approved a two-stage plan to privatise the state-owned flag carrier, Montenegro Airlines, which it values at €38 million ($56 million) capital will be increased by 30% and 5% of the shares placed on the market before a controlling stake is offered for sale. Capital raised will be used for fleet renewal. Earlier this year the carrier signed an eight-year dry lease deal with GE Commercial Aviation Services for two Embraer 195s, but by 2010 hopes to have a fleet of four E-195s and three Fokker 100s.
GE adds to Michigan engineering facility
Expansion GE Aviation will expand its University Development Center facility in Houghton, Michigan, adding add 50 new jobs and taking its Michigan workforce to nearly 1,700, with the main facility at Grand Rapids. Engineering staff at Houghton will do software development, verification and validation, mechanical design and hardware design. GE expects to occupy the new facility next month. The General Electric company makes commercial and military jet engines and components as well as electric and mechanical systems.
Source: Flight International
