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Duerr merges aircraft assembly tech ops with Broetje-Automation
August 11, 2014 / 6:31 AM / in 3 years

Duerr merges aircraft assembly tech ops with Broetje-Automation

FRANKFURT, Aug 11 (Reuters) - German engineering group Duerr said on Monday it would merge its aircraft assembly technology business with Broetje-Automation Group in exchange for an 11 percent stake in Broetje-Automation and cash.

It did not disclose financial details of the deal, which it said would create the world’s biggest supplier of aircraft assembly systems with annual sales of about 150 million euros ($201 million).

Broetje-Automation is owned by Deutsche Beteiligungs AG .

$1 = 0.7465 euro Reporting by Maria Sheahan; editing by Keiron Henderson

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