Moog likely to acquire GE Aviation subsidiary
05 September 2009
Moog Inc., the US-based global designer, manufacturer, and integrator of precision control components and systems mainly used in aircraft, has expressed its intention to buy GE Aviation Systems' flight control actuation product line in Wolverhampton, UK.
However, it has not disclosed the purchase price. The transaction is subject to receipt of applicable regulatory approvals and customary closing conditions.
''GE's Wolverhampton arm designs and manufactures primary and secondary flight control actuation for a number of commercial and military programmes, and the product line would be complementary to its aircraft controls segment,'' the company said in a statement yesterday.
"It supplies high-lift actuation systems for the Boeing 777 and 787 and the Airbus A330 and A380," it added.
Moog and GE have initiated the applicable regulatory filings and expect to sign an agreement very shortly, it said, adding that it has sufficient cash on hand and availability under its revolving credit facility to finance the acquisition.
GE acquired this business as part of its acquisition of Smiths Aerospace in May of 2007.