BAE agrees Armor purchase
Acquisition BAE Systems is continuing its push into the USA with the agreement to buy land systems company Armor. The combination of Armor with BAE's existing land systems business "will strengthen our capabilities to the benefit of US and UK armed forces and their international allies".
FAC to open Middle East office
Expansion Farnborough Aerospace Consortium is planning to open an office in Dubai in the coming weeks to take advantage of the aerospace business opportunities in the Middle East. Executive director Ross Bradley says the new office will help consortium members seeking to do business in the region to "set out a Middle East strategy, identify partners and provide links between the UK and the Middle East". The office will be its first overseas outpost, and India could be next, Bradley says.
Saab to take over Ruag's warhead division
Takeover Saab is strengthening its presence in Switzerland as it takes over Ruag's warhead division, which has been a subcontractor to the Swedish company's Saab Bofors Dynamics division for some time. Saab is setting up Saab Bofors Dynamics in Thun, Switzerland to manage the new acquisition, in which Ruag will continue to hold a minority stake.
Merger costs dampen K&F income
Earnings K&F Industries' first quarter earnings fell $1 million to $9 million because of the costs associated with its forthcoming merger with Meggitt. Sales for the period rose 20% to $109 million.
Aero Maintenance adds to electronic ability
Purchase Vancouver, Washington-based Aero Maintenance is expanding with the acquisition of Atlanta-based Precision Electronics. The repair station specialises in electronic and electro-mechanical accessories and instruments for Bombardier and Embraer aircraft and is an authorised ATR repair centre. It says the deal will "enhance Aero Maintenance's ability to provide total component repair solutions" for regional aircraft.
LMI Aerospace prepares for growth
Results Components supplier LMI Aerospace is expanding its facilities and forecasting continuing sales growth in 2007 as it releases its 2006 full-year results (see graph). The company is adding 45,720m2 (150,000ft2) across its nine US sites, investing a total of $7 million in 2007 in manufacturing and software.
Commercial boom drives Precision record
Sales Precision Castparts is continuing its drive for cost savings after ending its 2007 fiscal year on a high. The company made record fourth quarter sales of $1.5 billion, 64% higher than the same period a year earlier, due to strength in commercial aerospace. Net income was $205 million.
Meggitt creates new division
Restructuring Meggitt is realigning its electronics and aerospace business units to form a new division, Meggitt Sensing Systems. Chief executive Terry Twigger says the move is a "natural and timely evolution of our sensing businesses".
Source: Flight International
