Airbus to shortlist Laupheim plant candidates
RESTRUCTURING Airbus is preparing to shortlist three to five companies for the sale of its Laupheim, Germany manufacturing facility, having made preliminary decisions last month on divesting six other plants to three companies as part of its Power8 restructuring. The Laupheim plant specialises in the production of aircraft cabin interiors. Three companies - Latecoere, MT Aerospace and GKN - have been selected as partners for six plants in France, Germany and the UK: Meaulte, St Nazaire Ville, Nordenham, Varel, Augsburg and Filton. Airbus's executive vice-president of programmes, Tom Williams, says the company was keen to prioritise the sale of the other plants because of their immediate importance to the A350 XWB programme, but adds: "There's been a very good level of interest in Laupheim."
Candover declares Stork bid unconditional
ACQUISITION Candover-led consortium London Acquisition has declared its revised €1.5 billion ($2.2 billion) takeover offer for Stork unconditional after earlier securing acceptance for 98% shares as of the 14 January offer deadline. Under the restructured deal, Icelandic banks Landesbanki and Eyrir - part of LME - joined the London Acquisition consortium, while LME's other member, Marel Food Systems, is to buy Stork's food systems division immediately after the takeover is closed. Fokker Services parent Stork operates in the aerostructures manufacturing and aircraft servicing sectors, as well as industrial technical services, food systems and print sectors.
Cobham expands US security business
ACQUISITION Cobham is to acquire US intelligence and missile defence company Sparta for $416 million cash. After the acquisition, expected to be completed during the second quarter of 2008, Sparta will become a separate strategic business unit of Cobham's North America division. Cobham chief executive Allan Cook says: "This is a major step forward in the implementation of Cobham's technology strategy and the creation of a significant tier 2 business supplying the US DoD and intelligence markets."
Propulsion leads Safran 2007 sales growth
RESULTS Strong growth in its aerospace propulsion business last year helped French firm Safran boost full-year group revenues in its continuing businesses 7% to €10.8 billion ($16 billion) in 2007. Its aerospace propulsion revenues grew nearly 17%, representing half of the group's overall sales at €5.9 billion, while deliveries of new engines for both commercial aircraft and for helicopters grew more than 20% compared with 2006. Meanwhile, Safran completed the €383 million sale of its non-core Sagem Communications business to The Gores Group, which becomes majority shareholder Safran retains 10% and Sagem employees hold 20%. Safran's space and defence specialist, Snecma Propulsion Solide, has created a new composite materials division.
Sukhoi investment gets Putin's blessing
SUPERJET Russian president Vladimir Putin signed a decree permitting a previously agreed sale of 25% plus one share of Sukhoi Civil Aircraft to Alenia Aeronautica of Italy. Putin, whose approval was required by Russian law, specified that citizens of foreign countries shall not occupy more than a quarter of Sukhoi Civil control board seats, and that the company be headed by a Russian citizen, but foreign investors are being courted to raise funds for Sukhoi's $1 billion Superjet regional jet project.
Source: Flight International
