Meggitt to acquire Pacific Scientific Aerospace for $685 million
18 Jan 2011
Meggitt Plc, a UK-based engineering company specialising in aerospace equipment, today said that it will buy US aerospace components maker Pacific Scientific Aerospace (PSA) from Danaher Corp, for $685 million in cash, in a bid to expand its range of fire-fighting products.
PSA designs, develops, and produces aviation safety equipment for commercial, military and general aviation industries. The group comprises six divisions with locations throughout North and South America, Europe and Asia.
It supplies electric motors, position sensors, fire extinguishers for aircrafts, electric power, electric actuation and security products among others for the civil aerospace and military.
It generates 57 per cent of its revenues from civil aerospace, while 43 per cent comes from the military markets.
The acquisition of PSA will add fire and smoke suppression capabilities to Meggitt's product portfolio, creating an integrated leading fire and smoke detection and suppression offering.
It will increase Meggitt's exposure to major civil and military platforms, including Boeing Co.'s (BA) 787 Dreamliner, Airbus' A380, A350 and A400M and the Eurocopter NH-90.
