Wed, Jun 06, 2012
Develops Systems And Components For Satellites, Missile Defense
American Pacific Corporation has reached agreement to divest its Aerospace Equipment segment, also known as its In-Space Propulsion business, to Moog Inc. The purchase price announced Monday is approximately $46 million in cash. The In-Space Propulsion business, with locations in New York, California, Ireland and the United Kingdom, is a developer and manufacturer of liquid propulsion systems and components for satellites and missile defense systems.
Joe Carleone, AMPAC's President and Chief Executive Officer, commented, "Moog is acquiring a leading manufacturer of liquid propulsion systems with a reputation in the industry for its long flight heritage, reliability and high quality customer service. Our goal was to find a strategic buyer that could continue to grow the business and we feel that Moog is the right partner for the business. The divestiture is a strategic shift that allows AMPAC to place more focus on the growth and performance of its pharmaceutical-related product lines."
The business will report to Jay Hennig, President of Moog's Space and Defense Group and will provide additional capabilities, specifically in spacecraft controls. Hennig stated, "The In-Space Propulsion business complements our existing components and expands our propulsion systems capabilities. We believe that this acquisition will expand our European presence and provide additional scale to serve our customers with a complete satellite control offering."
Sales for In-Space Propulsion for the twelve-month period ended March 31, 2012 were approximately $51 million. The closing of the transaction, which is subject to the satisfaction of customary closing conditions, is expected to occur by September 30, 2012.
More News
"Sometimes, growth makes it easy to miss the little things, and today's "little guy" is smarting more than ever just looking at the price tags of "cheap" aircraft. Poberezny, seein>[...]
Aero Linx: Space Medicine Association (SMA) The Space Medicine Association of the Aerospace Medical Association is organized exclusively for charitable, educational, and scientific>[...]
Also: Martha King Scholarship, Montaer Grows, Textron Updates Pistons, FlySto The FAA is hiring thousands of air traffic controllers, but the window to apply will only be open for >[...]
Also: B-29 Superfortress Reunion, FAA Wants Controllers, Spirit Airlines Pulls Back, Gogo Galileo Van's Aircraft posted a short video recapping the goings-on around their reorganiz>[...]
Also: Flight Club, Jet Shades, MyGoFlight’s FlightFlix Acquisition FIFTY YEARS! What a milestone for the aviation world’s master aero-education duo! John, Martha, along>[...]