ST Engineering has completed its acquisition of GE's nacelle manufacturing unit Middle River Aircraft Systems (MRAS).
The deal was completed at a net consideration of around $506 million in cash, will be subject to adjustments for debt-like items and working capital, it adds.
“With the inclusion of MRAS, ST Engineering has greatly boosted its network of facilities in the US to support regional and global customers,” the company adds.
On April 14, the company said it received the green light from regulators in the United States for the takeover, which was first announced in September 2018.
MRAS is the sole supplier of certain nacelle equipment for GE engines powering the Airbus A330, Boeing 747-8, 767, Comac ARJ21 and Embraer 190.
It specialises in the development, production and aftermarket support of nacelles, thrust reversers and aerostructures, and employs around 800 staff.
Source: Cirium Dashboard