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.
Ugly To Many, But Incredibly Beautiful To Hard-Core Helo Fans ANN CEO and Editor-in-Chief, Jim Campbell visited the Cold War Air Museum's Mi-24 Russian helicopter at HAI a little o>[...]
Also: Big Boeing Order, Napa Tower Quaked, Landsberg Retires, Galileo Falters Breaking News! Google has unveiled an exciting new UAV project, called Project Wing, which has been un>[...]
“We are delighted that construction of a world-class aerospace assembly facility is underway in Lafayette and that skilled Louisiana workers will be producing the standard-be>[...]
YOU Can Contribute To The Annual List Compiled By The Staff and Readership of the ANN and Aero-TV! E-I-C Note: We're going to start naming names and dropping details THIS week--- t>[...]
Klyde Drones On... and On... FMI: www.klydemorris.com>[...]