SOUTH KOREA, ISRAEL 'CLOSE TO DEALS'
DEFENCE: South Korea and Israel are considering a broad range of industrial co-operation in aerospace and defence. Israeli sources say South Korea is close to selecting one or more Israeli-made unmanned systems, which would be made in South Korea. Also "on the table" are multi-mission aircraft capable of air refuelling, electronic and communications intelligence systems for medium-sized platforms and "different types" of missiles. To date, South Korea has purchased $400 million of defence systems from Israel, included the Israel Aerospace Industries Green Pine long range radar and other IAI systems for the A-50. Sibat, the Israeli defence ministry division in charge of defence exports, is assisting the negotiations.
LUFTHANSA TECHNIK MAY SHUT DOWN IRELAND
LABOUR: Lufthansa Technik Airmotive Ireland is threatening to close its operations with a loss of 460 jobs if an overtime ban imposed by an employee works council is not overturned. The employees are demanding a 2.5% salary increase as laid down in the Irish National Pay Agreement from 2008. However, the company says that deal "effectively collapsed" as a result of the economic downturn in 2009 and "any wage increase is simply not possible" in the current climate. The issue stands before Ireland's Labour Relations Commission.
TERRA FIRMA PREPARES RBS BID
LEASING: Private equity company Terra Firma is reportedly ready to place a bid for the purchase of RBS Aviation Capital, with plans to merge the lessor with Dublin-based AWAS, which Terra acquired from Morgan Stanley in 2006 for $2.5 billion. RBS Aviation is the leasing arm of the banking group which has been in partial UK government ownership since its financial crisis bailout.
AVIATION CONSULTING JOINS WITH AVIATRAX
MAINTENANCE: UK-based continuing airworthiness management services provider Aviation Consulting is entering a joint collaboration with Luxembourg-based consultancy Aviatrax and will trade as Aviatrax Technics. The company offers a range of supplementary technical services including the management of maintenance and support contracts, along with oversight of aircraft delivery.
BASQUE CLUSTER UP IN 2010
INDUSTRY: The 37 companies in the Basque region's Hegan aeronautics and space cluster association posted a 7.5% rise in turnover in 2010, to €1.3 billion. According to the association, employment rose 8.6% to 10,664 people and research-and-development spending, though down on 2009, remained high by recent standards at €148 million despite the financial crisis.
PRECISION CASTPARTS ACQUIRES PRIMUS
ACQUISITION: US aerospace castings and forgings firm Precision Castparts has acquired aircraft components, kits and assemblies manufacturer Primus International for $900 million. The deal is expected to close in the first quarter of 2012.
Source: Flight International