Boeing has formally completed its $3.75 billion purchase of Hughes Electronics' space and communications unit. The company's new satellite unit, Boeing Satellite Systems, anticipates operating margins of 10% plus, and will produce 16-18 satellites per year. Aviation communications specialist ARINC has bought a 25% stake in parts and inventory e-business specialist Aero V, a subsidiary of First Aviation Services. ITT Industries, a supplier to the defence communications market, has bought Dyncorp's $8.4 million California-based subsidiary, Aerotherm. Aerotherm specialises in space and missile systems engineering, and will complement ITT's ballistic missile defence business. Netherlands-based Akzo Nobel has acquired Dexter Corporation's Coating Systems business, which consists of three manufacturing facilities. The Waukegan facility, Illinois, will now serve as the global headquarters for Akzo Nobel Aerospace. Aerospace and defence products specialist Eaton Aeroquip has bought the privately held business of Australian metal hydraulic fittings maker Frederick Duffield, plus its overseas operations, improving its position in the Australian fluid connector market. Thomson-CSF is selling its Crouzet-Automatismes business to Schneider Electric for €235 million as part of an ongoing strategic review of its business portfolio. A Management Buyout (MBO) of Emblem Group, which includes UK defence business MBM Technology and the US-based Artisan Technologies, has been completed from Morgan Crucible. The handset and cord reel business of MBM, which serves the IFE market, has become MBM Aerotech and will continue to be part of Morgan Crucible. Finnair has sold the business operations of US-based Norvista to All Continents Travel, to boost sales there. It has already sold Norvista branches in Russia, the Baltics and Sweden.
Source: Flight International
