21st Dec 2015 08:01
LONDON (Alliance News) - Meggitt PLC on Monday said it has completed the acquisition of the composites division of EDAC after receiving US regulatory approvals.
The aerospace and engineering group struck a deal to acquire the composites arm of the US manufacturer for USD340.0 million back in September.
"We are now very well positioned to meet a growing demand for high performance, lightweight materials that will be a pervasive feature of next generation aircraft. The group extends a warm welcome to our new employees and looks forward to our continuing success together," Chief Executive Stephen Young said.
The acquired businesses will be integrated into Meggitt's polymers and composites division.
By Samuel Agini; [email protected]; @samuelagini
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