Avio has acquired an 80% share of the aeronautical business of Netherlands-based Philips Aerospace, increasing its involvement in the US Joint Strike Fighter programme and giving it a presence in the Dutch market. Philips Aerospace, which specialises in advanced machining, sheet metal and thermal spraying, is to be renamed DutchAero. The two companies have granted each other irrevocable option rights, respectively, to acquire and sell the remaining 20% of the shares.
Italian aeroengine and space propulsion manufacturer Avio, which is wholly owned by Carlyle Group, says its aim is to expand its presence in northern Europe. Avio’s chief executive, Saverio Strati, says: “This is a strategic investment for us – DutchAero has developed products and technologies that are complementary to ours. Moreover, DutchAero is responsible for a significant share of the [General Electric/Rolls-Royce] F136 engine for the Joint Strike Fighter, a programme in which Avio is also involved.”
DutchAero is developing an electrochemical machining process, which Strati says is “a new relevant technology in which we are interested and therefore Avio took this important opportunity”. Philips says the move “is part of the Philips strategy to continue focusing on our core business”.
Source: Flight International