Friday, Moog Inc. (MOG.A) said that it is in talks with GE Aviation Systems, an operating unit of General Electric Co. (GE), to acquire its flight control actuation product line in Wolverhampton, UK. The company expects to sign a definitive purchase agreement very shortly and the applicable regulatory filings are already initiated.The Financial aspects of the deal is not revealed.
Moog noted that Wolverhampton product line would be complementary to its Aircraft Controls Segment. Wolverhampton operation designs and manufactures primary and secondary flight control actuation for the Boeing 777 and 787 and the Airbus A330 and A380. Wolverhampton also provides primary flight controls for the European fighter, Typhoon, and a main engine lift system for the Rolls-Royce engine on the STOVL version of the U.S. Joint Strike Fighter. Wolverhampton sales for the calendar year 2008 were approximately $100 million.
Moog's total sales for fiscal 2009 are projected at just over $1.8 billion, while its Aircraft Segment is expects to report sales of $652 million.
GE acquired the Wolverhampton business as part of its acquisition of Smiths Aerospace in May of 2007.
MOG-A is currently trading down 0.28% at $28.91, on the NYSE.
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