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.
Also: Aldrin Evacuated, Shark US, Lufthansa, NASA, ESA's New Orbiter, FLIR Systems, Esterline The expression, “breaking news,” seems to be highly overused nowadays, but>[...]
Closing Santa Monica Airport: Something Does Not Add Up The latest update from the the Santa Monica Airport pointing out the reasons that the arguments for closing the airport "don>[...]
In radar operations, clutter refers to the reception and visual display of radar returns caused by precipitation, chaff, terrain, numerous aircraft targets, or other phenomena.>[...]
"Regardless of our appreciation of the public policy arguments raised by opponents, we have been advised that the law and our bilateral obligations leave us no avenue to reject thi>[...]
Good News, Bad News... It's ALL News As the preeminent online aviation news resource out there, the editorial staff at Aero-News sees a large number of news releases. We look at al>[...]