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The international engineering group specialising in aerospace, defence and energy markets, has agreed to acquire the advanced composites businesses of Cobham plc for US$200 million in cash, financed from existing resources.
Businesses of Cobham are specialized in the design, development and production of highly engineered aerospace composite engine components (spinners, internal multi-stage components, exhaust flaps), radomes (C4I and defensive measures radomes, with a growing position in civil radomes) and complex secondary structures (air-to-air refuelling, structural munitions components). The businesses will be integrated into Meggitt Polymers & Composites (MPC), a division of Meggitt PLC.Operating facilities are located in the United States (San Diego, California and Baltimore, Maryland) and in the UK (Shepshed, Leicestershire and Stevenage, Hertfordshire). Their revenues in 2014 were US$81.1M."The acquisition will enhance our materials and manufacturing technologies and product offerings in complex composites, which are key to next generation aircraft components" said Stephen Young, Group Chief Executive of Meggitt.More information: www.meggitt.com