Italian company Magnaghi is winning business and looking to expand in the USA on the back of a $10 million cash injection to upgrade production facilities and "relaunch the company", says chief executive Paolo Graziano.
The previously troubled Milan- and Naples-based business, which was acquired two years ago by investment group Invesco, is to supply, with Liebherr-Aerospace Lindenberg of Germany, the main landing gear for Aermacchi's M346 advanced jet trainer. The contract is one of several that Magnaghi is bidding for. Liebherr is to provide the landing gear while Magnaghi will supply theextension/retraction system and leg and door uplocks.
Magnaghi earlier this year benefitted from the German decision to procure the BGTIRIS-T infrared-guided air-to-air missile, for which it builds the casing. The company says it is now looking to expand its US activity, "possibly through acquisitions if appropriate". Turnover for 2003 is expected to be c21 million ($24 million), up 30% on last year.
Source: Flight International
