UK companies score well in DTI table

Ranking UK aerospace companies feature heavily within Europe's strongest performers in the UK Department of Trade and Industry's annual value-added scoreboard. Four of the top 10 European aerospace and defence companies measure by value added (see graph) are based in the UK. Cobham, Meggitt and Ultra Electronics also show high levels of added value, despite not making the top 10, says DTI industrialist Mike Tubbs, who compiles the scoreboard.

Business briefing: 24 April 2007

Aviall widens outlook with Sisu

Acquisition Boeing subsidiary Aviall is expanding into the non-commercial sector as it incorporates aircraft brake and wheel services, parts and technical information firm Sisu Services as an independent business unit in its product repair services division. Boeing says the deal will not affect its previously released financial guidance.

P&W boosts GTE aviation revenues

Results Gas Turbine Efficiency is considering raising $5 million through debt or equity sources to make the most of growth initiatives including expansion into new regions. The engine monitoring and cleaning services provider's overall revenues slipped from $5.3 million to $4.7 million in 2006, due to its strategy to focus on long-term agreements with original equipment manufacturers. Aviation revenues grew 28% to $2.7 million. A $5 million deal signed with Pratt & Whitney in December should boost first-half performance, GTE says.

Lockheed increases Australian presence

Expansion Lockheed Martin is expanding in Australia with the purchase of RLM Systems, which provides system engineering, software development, integration and programme management services and products. The acquisition will be renamed Lockheed Martin Australia Information Systems & Global Services.

Finmeccanica seeks alternatives to ATR

Strategy Alenia Aeronautica parent Finmeccanica is examining alternatives after failing to persuade EADS to sell its 50% stake in regional aircraft manufacturer ATR. The Italian firm says "at the moment, EADS is not interested in selling". Full control of ATR would provide benefits for the Sukhoi Superjet 100 programme, in which Alenia holds a stake of 25% plus one share. Finmeccanica chief executive Pier Francesco Guarguaglini is not ruling out a second assembly line for Superjet 100s in France or Italy, if agreement could be reached with EADS.

Italy confirms three Alitalia bids

Offers Three consortia are bidding for a stake of at least 39.9% of troubled Italian flag carrier Alitalia, according to Italy's finance and economy ministry. Russia's Aeroflot has teamed up with Italian bank UniCredit, while a second group is made up of MatlinPatterson Global Advisers and TPG Partners as well as Italian bank Mediobanca. The third bidder is Air One-affiliated AP Holding.

Source: Flight International