For immediate release |
25 November 2015 |
Meggitt PLC
("Meggitt")
Completion of Acquisition
Meggitt completes acquisition of the advanced composites businesses of Cobham plc
Further to the announcement made on 10 August 2015, Meggitt confirms that the acquisition of the advanced composites businesses of Cobham plc (Cobham Advanced Composites Limited, Compass Composites Products Inc and certain assets of Cobham Advanced Electronic Solutions Inc) for $US 200 million in cash has now received all necessary approvals and the transaction has been completed.
The acquired businesses will be integrated into Meggitt's polymers and composites division.
ENDS
For further information, please contact:
Meggitt |
01202 597 597 |
Doug Webb, Chief Financial Officer |
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Richard Cashin, Group Head of Investor Relations |
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Buchanan Communications |
020 7466 5000 |
Charles Ryland |
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Richard Oldworth |
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Editor's notes:
About the advanced composites businesses of Cobham plc
The advanced composites businesses of Cobham plc comprise Cobham Advanced Composites Limited, Compass Composite Products Inc and certain assets of Cobham Advanced Electronic Solutions Inc. With a combined workforce of over 480 employees across four facilities in the US and the UK, the businesses are global leaders in the design, development and production of highly engineered aerospace composite engine components, radomes and structures. With over 30 years' advanced composite products experience, they have developed significant intellectual property and deep manufacturing know-how over decades and, through substantial investment, strong, established market positions.
Meggitt PLC
Meggitt PLC is a leading international engineering group specialising in aerospace, defence and energy markets with a consistent record of strong financial performance. Meggitt's goal is to increase and strengthen its presence in long-term growth markets through proprietary product development reinforced by strategic acquisitions and investment in people and facilities. Meggitt's well-balanced portfolio offsets variation in demand from the market niches within which it operates.
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