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: AirVenture Update, Barnstorming Opines On Media Aero-Reporting, NTSB Update, ERAU Scholarships, Doolittle Raiders, Tecnam P2010 The loss of Germanwings Flight 9525 due to wha>[...]
"Rover challenge puts students in the driver's seat of real-world engineering. Students perform research with computer-aided designs, select and fabricate components using mechanic>[...]
Comet A ball of rock and ice, often referred to as a “dirty snowball.” Typically a few kilometers in diameter, comets orbit the Sun in paths that either allow them to p>[...]
Aero Linx: New Jersey Aviation Association NJAA was formed in 2000 to promote, protect and preserve the state's multi billion dollar general aviation industry. Its membership inclu>[...]
NASA Goddard Releases Open Source Application Suite The Innovative Technology Partnerships Office at NASA's Goddard Space Flight Center in Greenbelt, Maryland, announced the releas>[...]