Aerospace engineering group Cobham acquired two North American companies last week for a total of $10.8 million. Cobham, which reported 2002 net profits of £71.2 million ($113 million), up 19% from 2001, bought GPS specialist Orion Electronics of Windsor, Nova Scotia, and antenna positioning specialist Xybion of Clearwater, Florida.
While "the commercial aviation business is still fragile", says chief executive Allan Cook, the defence business has done well due to increased US defence spending. Cobham specialises in fuel and oxygen systems, and is part of the AirTanker bidding team for the UK's Future Strategic Tanker Aircraft contract.
Source: Flight International
