Tue, Mar 08, 2005
Deal Valued At $94 Million
Rockwell Collins says it's entered into a definitive agreement
with Northrop Grumman to acquire Teldix GmbH, a provider of
military aviation electronics products and services, based in
Heidelberg, Germany. The deal is subject to customary closing
conditions, including regulatory approvals in Germany, and is
expected to close by the end of March 2005.
Under the terms of the agreement, Teldix has been valued at
approximately $94 million. Consideration for the purchase of the
Teldix stock will consist of the assumption of certain liabilities
and the payment of approximately $22 million in net cash.
Teldix’s revenues were approximately $90 million for its
fiscal year ended December 31, 2004. The purchase is expected to be
slightly accretive to fiscal year 2005 earnings per share.
"This acquisition, our first in Europe, broadens our European
presence and provides complementary product lines that will allow
us to enhance our offerings for customers worldwide," said Rockwell
Collins Chairman, President and CEO Clay Jones. "We’re
confident that Teldix’s position as a respected European
defense contractor will also provide new channel-to-market
opportunities for our current products and services."
With more than 40 years of engineering and manufacturing
experience, Teldix supplies a broad portfolio of complex military
aircraft computer products to major prime contractors throughout
Europe. Teldix has a leading position in major European programs
such as the Eurofighter Typhoon, the multi-role combat fighter
Tornado, and the NH90 and Tiger helicopters.
"We look forward to the synergies that will be provided by this
acquisition." said Bernard Loth, vice president and general
manager, Rockwell Collins International Subsidiaries. "The addition
of Teldix’s strong customer relationships and its engineering
and manufacturing capability will enhance Rockwell Collins’
business opportunities throughout Europe."
The acquisition of Teldix will increase Rockwell Collins’
European employment by approximately 40 percent.
More News
Aero Linx: Model Aeronautical Association of Australia MAAA clubs are about fun flying, camaraderie and community. For over 75 years, the MAAA has been Australia’s largest fl>[...]
Touchdown Zone Lighting Two rows of transverse light bars located symmetrically about the runway centerline normally at 100 foot intervals. The basic system extends 3,000 feet alon>[...]
“Discovery and innovation are central to our mission at Virgin Galactic. We’re excited to build on our successful record of facilitating scientific experiments in subor>[...]
How To Get A Story On Aero-TV News/Feature Programming How do I submit a story idea or lead to Aero-TV? If you would like to submit a story idea or lead, please contact Jim Campbel>[...]
Student Pilot Reported That During Rotation, “All Of A Sudden The Back Of The Plane Kicked To The Right..." Analysis: The student pilot reported that during rotation, “>[...]
ANN's Daily Aero-Linx (05.02.24)
See All