US cabin interiors and fasteners specialist B/E Aerospace is buying the aerospace fastener distribution business of Denmark's Satair for approximately $162 million in cash.

Wellington, Florida-based B/E Aerospace says the acquisition will both complement and expand its consumables product range to include metric fasteners, latches, cables and lighting products.

Chairman and CEO Amin Khoury says the move will substantially expand B/E Aerospace's European and Asia-Pacific customer base as well as its overall range of products. Satair's fasteners distribution arm "has an excellent OEM-oriented customer base and is highly complementary to our consumables management segment".

The deal is expected to close in the current quarter. It is expected to be neutral to B/E Aerospace's 2011 net earnings and accretive to them thereafter.

Source: Air Transport Intelligence news