DAE advances plan to buy US assets
Acquisitions Dubai Aerospace Enterprise is moving ahead with its plan to buy Landmark Aviation and Standard Aero, signing an agreement with owner Carlyle Group. DAE confirms that it will sell Landmark Aviation's fixed-base operations, placing them in a trust pending completion of the deal, as well as other non-core activities. "We are committed to transparency and welcome a full and thorough review by the Committee on Foreign Investments in the United States agencies," says DAE.
Prodrive targets aerospace work
Strategy UK-based motor sports manufacturing specialist Prodrive is targeting the aerospace sector for growth. The company, which achieved a turnover of around £120 million ($236 million) in 2006 is investing in new machinery to manufacture products for aerospace customers, and plans to open a dedicated aerospace manufacturing facility as early as next year. Group operations director Tony Butcher hopes aerospace could eventually account for around half of the £10 million worth of products that Prodrive manufactures in-house, compared with the current level of under £1 million.
Arinc boosts modification capacity
Expansion Arinc Engineering Services has opened a 7,525m2 (81,000ft2) aircraft modification centre at Oklahoma City's Will Rogers World airport. The facility can accommodate four Lockheed Martin C-130 aircraft inside the hangar and eight more on the ramp. "Arinc serves two fast-expanding markets, for modernisation of military aircraft and upgrading of commercial and general aviation airframes," says Arinc vice-president Mike Young. "This centre is four times the size of our last facility and allows room for aggressive growth here," he adds. Annapolis, Maryland-based Arinc has transferred the workforce from its former Sundance Airpark operations.
HAI plans return to profit with export boost
Sales drive Hellenic Aerospace Industries is targeting international markets as part of its three-year plan to get out of the red by 2009. Chief executive Tassos Filippakos says the company plans to increase sales to €250 million ($330 million) by 2009 and cut personnel costs. In 2006, the company managed to reduce losses to €48 million and boost productivity by 6%. In 2006, new sales agreements reached €331 million and for 2007 they are expected to exceed €300 million. The company is targeting expansion into the civil aerospace and satellite sectors, as well as new overseas markets including Egypt and the UAE. During the next year the company will hire 200 new employees for a period of six years in order to complete the F-16 manufacturing project it has agreed with Lockheed Martin.
GKN boosts engine presence with TAMG
Purchase UK-based GKN is boosting its exposure to civil aerospace in the USA and upping its engine capability, with the acquisition of engine component manufacturer Teleflex Aerospace Manufacturing Group. GKN says the manufacturer, whose capabilities cover a range of metals including titanium, "complements both the existing business and expands GKN's range of aerospace materials technologies". Civil aerospace accounts for around 70% of TAMG's revenues, which were $135 million in 2006. GKN adds that it "aims to take advantage of the growing composite content in aero engine development". Completion is expected by mid-year.
Source: Flight International
