Tue, Nov 23, 2004
Cost Of The Wedding: $110 Million
Smiths Group says it's taking over Integrated Aerospace Inc., a
privately owned, California-based supplier of specialist landing
gear systems, for $110 million.Integrated Aerospace is a leading,
sole-source supplier of landing gear products for small aircraft
including US military helicopters, fighter aircraft, business jets
and unmanned aerial vehicles (UAVs). Examples include the F/A-18
Hornet and Super Hornet and the UH-60 Black Hawk.
The company is also the technology leader in external fuel tanks
for fighter aircraft and helicopters. Smiths chief executive, Keith
Butler-Wheelhouse said: "This acquisition, our seventh in 2004,
once again underlines Smiths' strategy of profitable growth through
the acquisition of businesses with technologies and products which
complement or expand our offering to the customer."
Commenting on the expansion of the business, Dr John Ferrie,
group managing director of Smiths Aerospace said: "Integrated
Aerospace is a strong addition to our actuation and aerial
refueling systems businesses. This acquisition now enables Smiths
to provide complete landing gear systems for helicopters, business
jets and the rapidly expanding market for UAVs. It also
significantly expands our capability in aerial refuel ling
systems."In the 12 months to September 2004, the turnover of
Integrated Aerospace totalled $50 million.
The acquisition is expected to complete in November, subject to
regulatory approvals. S
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