Northrop Grumman has finalised the sale of its commercial aerostructures business to Washington DC-based investment firm The Carlyle Group for $1.25 billion.

Carlyle first co-operated with Northrop Grumman in buying the business then known as Vought Aircraft ¡ in 1992. Then, in 1994, Northrop Grumman bought out its almost-equal partner.

Now Carlyle has once again named the business Vought Aircraft. Based in Dallas, where Northrop Grumman's Integrated Systems and Aerostructures (ISA) was based, the business has estimated annual sales of more than $1 billion.

The business that Carlyle has bought makes most of the fuselage of the Boeing 747 at its factory in Los Angeles suburb Hawthorne as well as structures for other Boeing types including the 737, 757, 767 and 777.It also makes the wing for the Gulfstream V business jets and produces nacelles and nacelle components for business and regional jets and large transport aircraft.

Source: Flight Daily News