LMI Aerospace to buy Valent Aerostructures for about $246 million

Thu Dec 6, 2012 7:22am EST

(Reuters) - LMI Aerospace (LMIA.O), which supplies components to the aerospace and defense industries, said it will buy Valent Aerostructures for about $237 million, plus about $9.7 million of certain retained obligations.

LMI Aerospace is expected to generate over $480 million in revenue based on projected 2013 results of the combined entities, the company said in a statement.

The deal is expected to close Dec 31, 2012, LMI Aerospace said.

(Reporting by Mridhula Raghavan in Bangalore; Editing by Joyjeet Das)

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