ISRAEL AEROSPACE CHASES FOREIGN PARTNERS
Israel Aerospace Industries is in negotiations with potential foreign joint-venture partners to extend its strategy for boosting unmanned air vehicle sales and enabling investment in new designs that may have no immediate market in Israel. To date, IAI has established joint ventures and subsidiaries in the USA, Brazil, Germany, India and Russia. Company sources indicate that IAI is looking for a foreign partner to develop its Panther tiltrotor, which was not selected by the Israeli defence ministry to participate in the last phase of a brigade-level UAV competition.
VECTOR AEROSPACE CONTEMPLATES SALE
Vector Aerospace is evaluating bids "from a number of parties" interested in a part acquisition of the Toronto-headquartered repair and overhaul services provider. Vector, which has facilities in Canada, the USA, the UK and Africa, to provide commercial and military engine, component and helicopter airframe services, has retained Scotia Capital as adviser.
CHROMALLOY TAKES CORE PRODUCTION IN-HOUSE
Chromalloy next year plans to start construction of a new 3,716m2 (40,000ft2) ceramic core production facility in Tampa, adjacent to its casting centre, to manufacture cores to form cooling passages in gas turbine components. The new site should be operational in early 2012. By producing its own cores, Chromalloy hopes to reduce casting times.
COBHAM SETS SIGHTS ON RVISION
Cobham is to acquire privately owned RVision for $28 million cash on completion, expected around the end of 2010, and up to a further $20 million between 2012 and 2014 depending on future performance. RVision designs, manufactures and integrates electro-optical and infrared imaging systems. Cobham describes the business, which has 40 employees in San Jose and San Diego, as "an excellent technological fit" with its existing surveillance businesses.
ILFC GOES TO MARKET FOR A BILLION
International Lease Finance Corporation has issued $1 billion in 10-year senior unsecured notes priced at an 8.25% coupon, expected to yield proceeds after costs of about $976 million. The money will be used for general corporate purposes and to pay off existing debt.
INDIA, FRANCE SEAL CLIMATE RESEARCH ALLIANCE
The Indian Space Research Organisation and its French counterpart, CNES, have signed a memorandum of understanding to develop joint studies in earth systems and climate research. ISRO's business arm, Antrix, has enjoyed a strategic alliance in communications satellites with EADS Astrium since 2005. The deal was signed during a visit to India by French president Nicolas Sarkozy.
TRANSDIGM WRAPS UP $1.27BN MCKECHNIE DEAL
Cleveland-based aircraft components maker TransDigm has completed its $1.27 billion cash acquisition of privately held McKechnie Aerospace Holdings, controlled by JLL Partners. McKechnie claims "major platform positions" on the full Airbus and Boeing ranges as well as many regional and business turbine aircraft. It forecasts 2010 revenues "modestly above" $300 million and pre-tax profits of up to about $100 million.
Source: Flight International