TransDigm buys rival ATI for $430M |
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Wed, 10 Jan 2007 14:16
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CLEVELAND (AFX) - Aerospace supplier TransDigm Group said late Tuesday it agreed to buy privately held competitor Aviation Technologies Inc. for about $430 million in cash.TransDigm said it expects Seattle-based Aviation Technologies to record 2006 revenue of $105 million and earnings before interest, taxes, depreciation and amortization of $35 million.In the fiscal year ended Sept. 30, TransDigm reported profit of $25.1 million on revenue of $374.3 million.Excluding the purchase price, the company expects the deal to add to earnings within the first 12 months.Aviation Technologies makes flight deck and passenger audio systems, cabin lighting and power control products. It also manufactures brushless motors, displays and related instruments. The company has 600 employees and has contracts for work on Boeing Co.'s 787 Dreamliner long-distance jet.TransDigm expects the deal to close within 60 days, subject to regulatory approval.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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