Electronics Production | September 15, 2008
GKN acquires Airbus Filton
UK based GKN has agreed to acquire the wing component manufacturing and assemblies operation which is located on the Airbus Filton site in the UK. Airbus has also awarded GKN life of programme contracts on all existing Airbus programmes for the Filton operation.
GKN has also signed contracts for significant work packages to design and produce large scale composite structures for the wing of the new A350 XWB (Extra Wide Body) long haul airliner In 2009, the first full year under GKN’s ownership, it is expected that the Filton operation will have revenues of approximately £375 million and will be both earnings accretive and cash generative. The combination of the acquisition of the Filton wing component manufacturing and assemblies operation and the A350 work packages delivers considerable benefits. - The Group order book for large civil aircraft structures increases from $4.5 billion to approximately $10 billion - A strategic supplier relationship is established with Airbus. - GKN achieves a more balanced mix of business across the civil and defence sectors and between Europe and North America. The Filton operation, which was part of a larger cost centre under Airbus ownership, is being acquired for a total consideration of £136 million. An initial payment of £100 million will be made on completion with the balance of £36 million payable in annual instalments over the years 2010-2015. The consideration is being met from existing resources. GKN will also assume future pension obligations in respect of transferring employees at completion. The value of the gross assets of the business being acquired was £89 million as at April 30, 2008. GKN intends to invest £125 million over five years to further develop the Filton business as global centre of excellence in composite wing structures as part of its participation on the A350 XWB. This new generation aircraft will feature an all-composite wing using the latest composite material and automated manufacturing technologies.
Keysight, FormFactor and CompoundTek to collaborate Keysight, FormFactor and CompoundTek, have formed a joint plan to provide an advanced photonics on-wafer testing solution to include automated alignment, simultaneous optical-optical and optical-electrical device tests.
Wireless Telecom buys Holzworth Instrumentation Wireless Telecom Group Inc. has signed a definitive agreement to acquire Holzworth Instrumentation Inc., a Boulder, Colorado-based provider of specialty phase noise analyzers and signal generators.
NCAB Group acquires Altus-PCB in USA Altus-PCB is a full-service supplier of PCBs based in New Jersey, USA, that has a business model similar to NCAB’s. Tee US company has a high level of technical expertise and sells mainly to original equipment manufacturers (OEMs).
Mycronic's Thomas Stetter looks back at a successful year As the company is moving more and more towards becoming a full solutions provider, business is taking off and the numbers show very much confirms that the Mycronic's strategy is working.
Sponsored content by SourcengineComponent Aggregators vs E-Commerce Marketplaces What is the difference between electronic component aggregators and a marketplace?
67% of a buyer’s journey is now done digitally. Learn how marketplaces emerged as full-cycle procurement platforms and challenged the traditional component aggregators.
IBL Löttechnik reviews 2019 IBL Löttechnik GmbH is staying on top of the market thanks to continues R&D investments.
Second install for EFI at Mid America Display Silicon Valley’s EFI will install a second EFI Nozomi C18000 single-pass inkjet, direct-to-board printer later this month to Mid America Display.
Ron Jakeman of Electrolube looks back at a successful 2019 Electrolube has been growing, both in terms of its footprint and financially, for a number of years not; Ron Jakeman details the company's progress.
Etteplan and Scanfil to start strategic cooperation in joint customer projects Engineering company Etteplan and contract manufacturer Scanfil have today agreed to enter a strategic partnership in Finland.
The lovechild of ACE Production and InterSelect Carlos Bouras of Nordson Select gave us the rundown of the result of the integration and combination of ACE Production and InterSelect GmbH - the new Integra.
American Battery Metals, U.S. lawmakers convene American Battery Metals Corporation has completed a series of meetings with lawmakers and personnel in the Department of Energy and Department of the Interior in Washington, D.C., to discuss issues critical to the domestic battery production and storage industry.
Cogiscan, Critical Mfg. form strategic partnership Quebec, Canada-based Cogiscan and Critical Manufacturing, headquartered in Portugal, have forged a strategic partnership to deliver smart factory solutions for electronics manufacturers.
Collins Aerospace expanding in North Africa Collins Aerospace Systems, a unit of United Technologies Corp., has taken the first step toward the expansion of its existing site in Casablanca, Morocco.
The advantage of Vantage - Garrett Wong tells the tale Nordson Asymtek's Garrett Wong gives us a rundown of the business year and also details the Vantage Advantage
Saki’s Eddie Ichiyama details a very successful business year Eddie ichiyama from Saki gave us an update on how 2019 has been for the company and also shared some details on the recent expansion in the Czech Republic.
The ripple effect of Enrico Krog Iversen while being an active part in creating one of the fastest growing robotics companies in modern time might have been enough for most people, that does not seem to have slowed down a certain Danish entrepreneur.
Yamaha's Ichiro Arimoto on the business year and the company's new ventures Evertiq had the opportunity to talk to Ichiro Arimoto, General Manager of Yamaha Motor Europe, about the business year and the company's new ventures.
Mycronic, Indium forge strategic partnership Indium Corporation has announced a strategic partnership with Sweden-based Mycronic, to develop no-clean and water soluble solder pastes for jetting applications.
SCHMID delivers PlasmaLine to Hofstetter PCB SCHMID announced it has installed the company’s first PlasmaLine comprising ICP etch & sputter deposition of its Korean JV SCHMID AVACO at Hofstetter PCB AG in Switzerland.
Cobot market to reach USD 9+ billion by 2025 A new report from Tractica is forecasting continued rapid growth for the global collaborative robot (cobot) market over the next few years, reaching revenue of USD 9.7 billion by 2025.
MixComm scores USD 8+ million in series B round New Jersey-based fabless semiconductor company MixComm has secured USD 8.6 million in series B funding led by existing investor, Kairos Ventures.
SIA elects 2020 leadership The Semiconductor Industry Association (SIA) Board of Directors has elected ON Semiconductor CEO Keith Jackson as its 2020 Chair and Qorvo CEO Robert Bruggeworth as its 2020 Vice Chair.
Si wafer shipments recede for fourth straight quarter Worldwide silicon wafer area shipments slid for the fourth consecutive quarter of 2019, according to the SEMI Silicon Manufacturers Group (SMG) in its most recent quarterly analysis of the industry.
Decline in Q4 DRAM contract prices lessens as buying momentum recovers According to the latest analysis from the DRAMeXchange research division of TrendForce, Q4 DRAM ASP is as of yet undergoing a slight QoQ decline, but this decline has shrunk down to 5%.
Technica forms growth-focused equity fund San Jose-based Technica USA has reached an agreement on an equity investment centered on future growth for the global PCB fab and assembly supplier.Load more news