ITP has acquired Florida-based aero-engine dealer Celsius AMTEC from Saab in a step aimed at increasing the Spanish manufacturer's presence in the US repair and overhaul market.
Meanwhile, in a further move towards strengthening Europe's aeroengine activities, Rolls-Royce and Snecma have formed a joint venture to pursue military combat programmes.
AMTEC specialises in sales, management and leasing of Pratt & Whitney JT8Dand CFM International CFM56 powerplants and associated spare parts, with sales of over $100 million last year.
A primary driver behind the deal is ITP's desire for its majority-owned Mexican subsidiary Industria de Turborreactores (ITR) to secure better access to the US market.
The Spanish company says the acquisition of AMTEC should allow it to increase its sales in the engine maintenance sector to around $200 million this year.
ITP owns 11 repair centres in Europe and the USA. Following the AMTEC acquisition ITP expects group sales to exceed $400million this year.
Meanwhile ITP shareholder Rolls-Royce has formed a 50:50 venture with Snecma Moteurs for collaboration on military aero-engine projects which receive government funding.
Rolls-Royce Snecma, to be based in London, will take over development of the joint Advanced Military Engine Technology programme and propulsion studies on the Future Offensive Air Capability being looked at for replacement of Dassault Mirage 2000 and Panavia Tornado fighters in the 2018-2020 timeframe.
The two companies recently agreed to collaborate on development of the TP400 powerplant for the Airbus A400M airlifter.
Source: Flight International
