French aerospace group Zodiac has agreed to acquire US-based C&D Aerospace Group to reinforce its operations and further its aim of becoming the "premier company" in the aircraft interiors field.
Zodiac expects to pay around $600 million for the company, financed internally, and the deal is expected to be accretive to earnings per share from the first fiscal year following the acquisition. Zodiac says the companies' activities are "complementary" and expects the acquisition to have a "favourable effect on Zodiac's earnings growth in the years ahead".
Zodiac has US sales of around $550 million in its airline equipment division. California-based C&D Aerospace Group booked revenues of around $400 million in 2004 and projects "substantially higher" results in 2005.
HELEN MASSY-BERESFORD/LONDON
Source: Flight International
