Business

June 24, 2013

TransDigm to acquire GE Aviation’s Electromechanical Actuation Business

TransDigm Group Incorporated announced June 21 that it has entered into a definitive agreement to acquire the assets of GE Aviation’s Electromechanical Actuation Division, for approximately $150 million in cash.

The acquisition, subject to regulatory approvals and other customary closing conditions, is expected to close around the end of the third quarter fiscal 2013.

The business, which will be conducted by TransDigm through a new entity, Whippany Actuation Systems, LLC (Whippany), located in Whippany, N.J., manufactures proprietary, highly engineered aerospace electromechanical motion control subsystems for civil and military applications. Product offerings include control electronics, motors, high power mechanical transmissions and actuators.  The major commercial end-use platforms include the Airbus 380, Boeing 737NG and 777, and Embraer regional jets.  The major military end-use platforms include Sikorsky SH-60 and S-92; Boeing CH-47, and Global Hawk. Whippany’s revenues are estimated to be approximately $80 million with aftermarket accounting for 40 percent of the revenues and the commercial market comprising about 50 percent of the revenues.

“The business fits well with our consistent strategy of acquiring proprietary aerospace businesses with significant aftermarket content,” said W. Nicholas Howley TransDigm chairman and CEO. “Its’ products are on a number of commercial platforms with OEM and aftermarket growth opportunities.  As a result, when combined with a softer military outlook, we expect the commercial content to rise as a percent of total revenue.  Additionally, these highly engineered products will allow us to expand our content on a number of substantial platforms, and fit well with the TransDigm portfolio of products.  As with all TransDigm acquisitions, we see opportunities for significant value creation.”

 




All of this week's top headlines to your email every Friday.


 
 

 

Raytheon awarded $251 million Tomahawk missile contract

The U.S. Navy has awarded Raytheon a $251 million contract to procure Tomahawk Block IV tactical cruise missiles for fiscal year 2014 with an option for 2015. The contract calls for Raytheon to build and deliver Tomahawk Block IV cruise missiles to the U.S. Navy and U.K. Royal Navy. Raytheon will also conduct flight tests...
 
 
Raytheon photograph

Poland’s TELDAT, Raytheon partner to develop new Patriot router

Raytheon photograph TELDAT President and CEO Henryk Kruszynski and Daniel J Crowley, president, Raytheon Integrated Defense Systems. Raytheon is partnering with TELDAT to develop and produce advanced militarized routers for the...
 
 
boeing-etihad

Boeing, Etihad Airways unveil livery of airline’s first 787-9 Dreamliner

Boeing Sept. 28 rolled out of its paint hangar the first 787-9 Dreamliner that will be delivered to Etihad Airways. The airplane is painted in the airline’s new ‘Facets of Abu Dhabi’ livery with colors reminis...
 

 

Northrop Grumman advances unmanned systems capabilities for maritime missions

EL SEGUNDO, Calif. ñ Northrop Grumman developing new, advanced unmanned systems to support the Department of Defense’s capability to deploy global persistent intelligence, surveillance, reconnaissance and strike capabilities in a faster and more cost-effective way. The next-generation Tactical Exploited Reconnaissance Node (Tern) program is one example of several in progress focused on a...
 
 
lm-orion

Upgraded P-3 Orion delivered ahead of schedule

Lockheed Martin photograph by John Rossino Lockheed Martin delivered a U.S. Customs and Border Protection (CBP) P-3 Orion aircraft 34 days ahead of schedule Sept. 23 from its facilities in Greenville, S.C. This is the 10th of 1...
 
 

Sikorsky S-92Æ helicopter marks decade of trusted service, performance

Sikorsky Aircraft Corp. announced Sept. 26 that September marks the 10-year anniversary of delivery of the first production S-92Æ helicopter. Sikorsky Aircraft is a subsidiary of United Technologies Corp. “On behalf of Sikorsky, I would like to congratulate and thank all of our customers, suppliers and employees upon reaching this milestone,” said Carey Bond, president,...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>