US-based manufacturer Esterline is considering further acquisitions following the purchase of thermally engineered components specialist Darchem Holdings for around $120 million. “Darchem holds the leading position in its niche, fits our ‘engineered-to-order’ model and provides opportunities for additional bolt-on acquisitions,” says Esterline chief executive Robert Cremin.
UK-based Darchem makes components, including lightweight thermal insulation for jet exhaust ducting, nacelles and thrust-reverser units; environmental control ducting; and heat shields for aerospace and defence applications. Its customers include Airbus, BAE Systems, Boeing and Rolls-Royce.
Esterline posted 2005 revenues of $834 million and says the acquisition will add $70 million in annualised sales to its business.
Clarification: Intelsat has asked us to clarify that its acquisition of PanAmSat is not expected to close for several months (Flight International, 20 December 2005–2 January).
Source: Flight International
