Aerospace / Defense
Astronics Corp Announces Extension Of Agreement To Acquire PECO Inc.
Astronics Corporation announced that it has mutually agreed with PECO Inc. (PECO) to extend the closing date of the acquisition to August 9, 2013, pending completion of customary closing items. Astronics previously announced on May 28 that it had entered into a definitive agreement to acquire the outstanding shares of PECO for approximately $136 million in cash.
Cubic Corp's Cubic Defense Applications Acquires Assets And Foreign Subsidiaries of Advanced Interactive Systems
Cubic Defense Applications, a Defense Systems business unit of Cubic Corp announced it has acquired certain assets and foreign subsidiaries of Advanced Interactive Systems (AIS) through a bankruptcy auction. AIS is a supplier of live fire specialized range facilities, virtual simulation products, and engineering design and project management services for counter-terrorism, law enforcement, and traditional military forces worldwide. AIS's virtual simulation products, PRISim, addresses basic marksmanship, judgmental evaluation and shoot don't shoot technologies that incorporate a wide range of customizable virtual simulation scenarios for use in classrooms or indoor live fire ranges. Additionally, AIS technology includes QuickRange, a customizable and modular solution for live fire and virtual training ranges.
Air Industries Group Inc Announces Acquisition
Air Industries Group Inc announced that it has acquired certain assets and the business of Decimal Industries (Decimal) of Copiague, Long Island, New York. Decimal is a long established Long Island based manufacturer of aerospace components whose customers include major aircraft component suppliers. Decimal specializes in aerostructure products including welded and brazed chassis structures housing electronics, radars, and avionics in aircraft. Decimal's business will become a division of the Company's Welding Metallurgy, Inc (WMI) subsidiary. The two principals of Decimal will join Air Industries to aid in the transition. Decimal's current facility has been leased for one year. It is anticipated that the Decimal operations will be relocated to the Company's facility in Hauppauge, New York. As part of the Decimal acquisition Air Industries also agreed with PNC Bank to restate and amend its loan agreement. This amendment reduces the interest charged by PNC on both the Revolving Credit Line and Term Loan.
TransDigm Group Inc Acquires Electromechanical Actuation Division From GE Aviation
TransDigm Group Inc announced that it acquired the assets of GE Aviation's Electromechanical Actuation Division for approximately $150 million in cash on June 28, 2013. The business, which will be conducted by TransDigm through a new entity, Whippany Actuation Systems, LLC (Whippany), located in Whippany, New Jersey, manufactures proprietary, engineered aerospace electromechanical motion control subsystems for civil and military applications.
Ellies Holdings ltd's Subsidiary Announces Acquisition Of Property From Vegtu Investments Proprietary Limited
Ellies Holdings ltd announced that Ellies Properties Proprietary Limited (Ellies Properties), a wholly owned subsidiary of Ellies, has concluded an agreement with Vegtu Investments Proprietary Limited (Vegtu), for the acquisition of the properties situated at ERF 319 Village Deep Township Registration Division IR, the Province of Gauteng, held under Deed of Transfer number T5776/2002; ERF 194 Village Deep Township Registration Division IR, the Province of Gauteng, held under Deed of Transfer number T5776/2002, and ERF 196 Village Deep Township Registration Division IR, the Province of Gauteng, held under Deed of Transfer number T5776/2002. The purchase price payable by Ellies Properties to Vegtu is ZAR39,000,000.00, which includes VAT at 0% as the property is being sold as a going concern due to the leasing of the buildings situated on the property.
Precision Castparts Corp Announces Acquisition Of Permaswage Holding SAS
Permaswage Holding SAS announced that it has been sold to Precision Castparts Corp. (in a $600 million, all cash, transaction. Permaswage is the technology provider in the fluid fitting industry providing standard components, tooling, and training to many aerospace companies globally. The Company expects the transaction to be completed during the third quarter of 2013. Advisers acting in this transaction on behalf of the Company included: Lazard (exclusive financial advisor); KPMG (financial vendor assistance), CSP Associates (commercial vendor assistance), Clifford Chance (legal).
Alliant Techsystems Inc Completes Acquisition of Caliber Company
Alliant Techsystems Inc announced that it has completed the acquisition of Caliber Company, the parent company of Savage Sports Corporation.
TransDigm Group Inc To Acquire GE Aviation's Electromechanical Actuation Business
TransDigm Group Inc announced that it has entered into a definitive agreement to acquire the assets of GE Aviation's Electromechanical Actuation Division, for approximately $150 million in cash. The acquisition, subject to regulatory approvals and other customary closing conditions, is expected to close around the end of the third quarter fiscal 2013.
China Avic Avionics Equipment Co Ltd to Acquire China-based Companies
China Avic Avionics Equipment Co Ltd announced that it has decided to acquire a 100% stake in Avic Beijing Keeven Aviation Instrument Co., Ltd. and a 100% stake in Suzhou Changfeng Co.,Ltd., from RMB 1,401.71 million in total, from a China-based aviation electronics system company. The Company will also acquire a 100% stake in an aviation instruments company, from a Shaanxi-based aviation group company. The acquisition price of the aviation instruments company is not determined yet.
United Technologies Corp Closes Sale Of Substantially All Operations Of Pratt & Whitney Rocketdyne Unit To Gencorp Inc
United Technologies Corp announced it has closed on the sale of substantially all operations of its Pratt & Whitney Rocketdyne unit to Gencorp Inc, except for its interest in the RD Amross joint venture. This interest is expected to transfer to GenCorp following regulatory clearances in Russia. The sale of Pratt & Whitney Rocketdyne concludes UTC's portfolio transformation activities, enabling the Company to focus on its core aerospace and commercial businesses.
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Analyst Research
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Provider: Edison Investment Research
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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