Saab surveys potential Space unit buyers
DIVESTMENT Saab is in contact with prospective buyers of its Space business unit. Saab Space chief executive Bengt Mörtberg says any deal "at the right price, to the right buyer" would be done in the first quarter of 2008. He says: "The reason is that Saab Space is not part of Saab's core business. With the industry undergoing consolidation at present, the timing may be right for a sale."
Volvo Aero boosts composites capability
ACQUISITION Volvo Aero has bought SEK110 million ($16.8 million)-turnover Applied Composites for an undisclosed sum to bolster its aircraft engine components-making capability. Volvo will invest approximately SEK50 million in composites research and development during the next 18 months.
BAE opens new hampshire F-22 and F-35 facility
Production BAE Systems has opened a new 2,790m2 (30,000ft2) facility at its South Nashua, New Hampshire location to make electronic warfare suites for Lockheed Martin F-22A Raptor and F-35 Lightning II fighters. Separately, the group will sell its Lansdale, Pennsylvania-based Surveillance and Attack business, which makes stand-off radar and communications jamming and other electronic warfare equipment for military aircraft, to Cobham for $240 million.
MTU BUYS into in new P&W engine programmes
INVESTMENT MTU Aero Engines will buy stakes in several Pratt & Whitney engine programmes which, it forecasts, could generate revenues of up to €12 billion ($17.4 billion). MTU is intending to take about a 15% stake in the geared turbofan for the Mitsubishi Regional Jet and the Bombardier CSeries aircraft, and a similar-sized stake in Pratt & Whitney Canada's PWX10 engine for the business jet and light regional aircraft market. The manufacturer, which has close ties with Pratt & Whitney, is planning to provide modules to the geared turbofan and the PWX10 programmes and says the engines will be part of an extended product family.
Mexico titanium foundry for ladish
EXPANSION Wisconsin-headquartered Ladish is to invest $16- $20 million to build a new titanium investment casting foundry in Mexico to complement its Pacific Cast Technologies facility in Albany, Oregon. The company expects to choose a site during the first quarter of 2008. Chief executive Kerry Woody says airframers, integrators and first-tier suppliers served by Ladish are locating in Mexico: "Mexico has the industrial infrastructure to support aerospace."
L-3 approves second major Share Repurchase
Stock L-3 Communications will repurchase up to an additional $750 million of its common stock over the next two years, effective immediately this new share repurchase authorisation follows a $500 million repurchase which was expected to have been completed by the end of 2007 as a way of returning cash to shareholders.
GCAT buys BAE's Manchester training business
ACQUISITION GCAT Flight Academy has acquired BAE Systems' Manchester, UK regional aircraft training business for an undisclosed sum. The centre provides pilot, cabin crew and maintenance training on the Avro RJ, BAe 146, ATP and Jetstream 31/32. Following the acquisition, GCAT will operate 56 simulators and claim to be the largest flight trainer in Europe.
Source: Flight International
