Takeover will allow UK manufacturer to grow landing-gear and refuelling businesses
Smiths Aerospace has purchased US equipment supplier Integrated Aerospace, a move that further consolidates the UK company's growing transatlantic portfolio.
Smiths Aerospace group managing director Dr John Ferrie says the deal will "allow us to grow at the smaller end of the market, where procurement of fully integrated systems is the norm. We saw this as timely to position us in the market for aircraft of less than 30,000lb [13,600kg] all-up weight".
He adds: "This is a strong acquisition in our actuation and aerial refuelling businesses. It enables Smiths to provide complete landing-gear systems for helicopters, business aircraft and the rapidly expanding market for UAVs. It also significantly expands our capability in aerial refuelling systems."
Smiths paid $110 million for privately owned Integrated Aerospace, which had a turnover of $50 million in the 12 months to September 2004.
Ferrie says Smiths, like other suppliers, has suffered from the downturn in civil business over the past three years but adds that there "has been a return to stability". During that period, the company has been digesting the merger with TI and divesting elements not seen as part of Smiths' core business. "We're correctly balanced now," he adds. "The civil side looks set to come back, but we're stronger with Boeing than Airbus and we'd like to build a stronger position with Airbus."
JULIAN MOXON / LONDON
Source: Flight International
