ROCKWELL COLLINS STRONG DESPITE STRIKES
Strikes at Boeing and Hawker Beechcraft failed to slow fourth quarter and full-year earnings growth at Rockwell Collins, but the company has trimmed sales forecasts for 2009. Fiscal fourth quarter earnings grew 17% to $182 million on revenue up 4% to $1.28 billion while full-year profits increased 16% to $678 million on revenue up 8% at $4.77 billion. However, chief executive Clay Jones says the "Boeing strike lasted longer and global economic activity has slowed more than we planned". Collins lowered its 2009 overall sales projections for fiscal 2009 by about 3% to $4.9-4.95 billion.
MEGGITT SEES 'LITTLE IMPACT' FROM SLOWDOWN
Aerospace and defence equipment maker Meggitt "has seen little impact so far from the anticipated slowdown in civil aerospace", although deliveries to Boeing slowed owing to the machinists strike, according to a management statement for the July-October period. Meggitt adds that the "profit impact of the reduction in the civil fleet and of the Boeing strike will be largely mitigated by the recent strengthening of the US dollar".
EADS SELLS LANDING GEAR MAINTENANCE UNIT
EADS Sogerma will sell its Revima landing gear maintenance division to a holding company co-owned by Revima managing director Christian Grzanka and former Messier-Dowty and Aircelle chief Christian Knapp. Revima specialises in widebody Airbus and Boeing types and Airbus A320s.
HAMPSON UNIT EXTENDS A350 TOOLING BUSINESS
Coast Composites, a US subsidiary of Hampson Industries, has won a $4.2 million contract from Airbus to supply initial fuselage curing tools for the A350 XWB programme, in addition to first A350 tooling orders secured by the group in August, taking total Hampson tooling orders on the programme to date to $27 million, for delivery by early 2010.
EX-SAAB SPACE UNITS UNDER RUAG UMBRELLA
Saab Space and its Austrian subsidiary Austrian Aerospace are now trading as Ruag Aerospace Sweden and Ruag Aerospace Austria, respectively, following their sale by Saab to Swiss technology group Ruag. More than 500 employees at the two units will be retained, along with sites in Switzerland, Sweden and Austria.
EXTEX RANGE BOOSTS TIMKEN PMA OFFER
Timken will add 600 US Federal Aviation Administration parts manufacturer approval components, including parts for Rolls-Royce 250, Pratt & Whitney Canada PT6 and Honeywell auxiliary power units, to its portfolio of more than 1,400 PMAs with the acquisition, for an undisclosed sum, of the assets of replacement aeroengine parts maker Extex.
PRIVATE EQUITY BUYERS NAB GARDNER
Gardner, the UK-headquartered aerostructure and engine components maker, has been bought from Dunedin and Rolls-Royce by private equity firm The Carlyle Group for an undisclosed sum. Gardner has manufacturing facilities in India, Poland and the UK. Customers include Airbus, BAE Systems, GKN and Rolls-Royce. The acquisition was the first by Carlyle's second European technology fund, Carlyle Europe Technology Partners II, now closed at €530 million ($693 million) and looking to invest €20-60 million in buyouts and expansion capital in sectors including aerospace.
Source: Flight International
