Alliant Techsystems (ATK) is to buy Alcoa's Thiokol propulsion business for $685 million. Thiokol, which makes rocket engines for space launch vehicles, became part of aluminium giant Alcoa with the acquisition of Cordant Technologies in May 2000. It had sales last year of $570 million. The transaction should close by the end of the second quarter. Minnesota-based ATK is a $1.1 billion aerospace and defence company producing munitions propulsion systems and composite structures. Iberia, majority shareholder in Spanish turboprop operator Binter Mediterraneo, is to merge the carrier into the 'Iberia Regional' brand after agreeing the move with Iberia Regional/Air Nostrum, which holds the franchise. Raytheon has bought Boeing's Australian aircraft modification operations, based at Avalon, Victoria. The site already performs subcontracting work to Raytheon on Australia's Sea Sentinel P-3C refurbishment programme. Austrian Airlines shareholders have approved the purchase of Rheintalflug, currently owned by Rolf Seewald. The regional has a share capital of ATS13.8 million ($0.9 million). Cobham of the UK has bought South African satellite antennas specialist Omnipless for $38 million, following the purchase in the last few months of Salies (£3 million/$4.3 million) and Team (£7.7 million for 80%), both of France, and of the Transco antenna line of Daytron Systems (£2.5 million). Peacock Financial of California has bought Florida-based aircraft modification specialist Genesis ModWorks. US simulation specialist Evans & Sutherland has divested its German subsidiary via a management buyout and established a new business unit in Germany to support its visual systems customers. Aviant group has bought smaller aerospace staffing specialist ETS. Aviant, formerly McDonnell Douglas Technical Services, was spun-off by Boeing via a management buy-out in 1999.
Source: Flight International
