Meggitt completes second composites acquisition this year
Meggitt completes acquisition of the composites division of EDAC
Further to the announcement made on 22 September 2015, Meggitt’s US$340 million acquisition of the composites division of EDAC has now received the required US regulatory approvals and the transaction has been completed.
The acquired businesses will be integrated into Meggitt’s polymers and composites division.
Stephen Young, Chief Executive, commented: “This acquisition, in tandem with the recently completed acquisition of the composites businesses of Cobham plc, substantially enhances our composites capability. We are now very well positioned to meet a growing demand for the high performance, lightweight materials that will be a pervasive feature of next generation aircraft. The Group extends a warm welcome to our new employees and looks forward to our continuing success together.”
Headquartered in the United Kingdom, Meggitt PLC is an international group operatingin North America, Europe and Asia. Known for its specialised extreme environment engineering, Meggitt is a world leader in aerospace, defence and energy, employing nearly 11,000 people at more than 40 manufacturing facilities and regional offices worldwide.