US motion control systems specialist Parker Hannifin is to buy Commercial Intertech for $366 million in cash and stock, plus the assumption of $107 million of debt. Both companies are based in Ohio. Parker has made 42 acquisitions in the last six years. The takeover of Helicopter Services of the UK by Canada's CHC Helicopter has been approved by the UK trade department and competition commission. Skyways Holdings, parent of the Swedish regional, is to take a 63% stake in local carrier Flying Enterprise, a Shorts 360, Saab 340 and BAe Jetstream 31 operator, in a deal worth $11.6 million, with the aim of establishing a base at Stockholm Bromma airport. Forgings specialist Ladish is to rename newly acquired aerospace components maker Wyman-Gordon Titanium Castings as Pacific Cast Technologies. Space Innovations (SIL) of Newbury, UK, is to split from its parent, commercial space exploration company SpaceDev of California, after a management buyout. SpaceDev bought SIL in 1998. US aviation fuel specialist World Fuel Services has agreed to sell its oil-recycling business, International Petroleum, to Dallas-based Earthcare for $33 million. Magellan parent Orbital Sciences' planned takeover of Oklahoma-based global positioning system specialist Lowrance Electronics has been called off by Lowrance, which says it can survive on its own. Aircraft structures supplier LMI Aerospace of St Louis is to buy the assets of US Hayakawa Industries, a Washington-based aerospace sheet metal manufacturer. Spire of the USA has completed the sale of its opto- electronics assets to Methode Electronics subsidiary Methode Massachusetts. The board of North Carolina-based Midway Airlines has rejected a non-specific merger proposal from two directors. Florida-based ultralight manufacturer Seair has agreed to sell assets, including its Flying Boat product, to Sea Gliders.
Source: Flight International
