30th Nov 2006 11:00
UMECO PLC30 November 2006 30 November 2006 ACQUISITION OF US AIRMOTIVE Umeco plc ("Umeco"), an international provider of supply chain and repair andoverhaul services and advanced composite materials primarily to the aerospace &defence and automotive industries, announces the acquisition of the assets of USAirmotive International Inc., ("USAM"). The acquisition is being made through Aeropia Inc., a Umeco Composites company. USAM is based in Miami, Florida, close to Aeropia Inc.'s existing premises. Thetwo businesses will shortly relocate to a single site near to their currentlocation. USAM and Aeropia both distribute a wide range of aerospace chemicals to the OEMand maintenance, repair and overhaul (MRO) markets. Umeco's total investment is estimated at $1.0 million including the cost of theacquired assets, working capital and relocation. Clive Snowdon, Chief Executive of Umeco commented: "The acquisition of USAM is a significant step forward for Aeropia. It allowsthem to expand into much needed larger premises in Miami and thereby offer abetter service to their combined customer base through an expanded productoffering." - Ends - For further information, please contact: Umeco plcClive Snowdon, Chief Executive 01926 331800 Hogarth Partnership LtdJohn Olsen / Barnaby Fry 020 7357 9477 Umeco plc Umeco is a leading innovator in distribution, supply chain management and repairand overhaul services to the aerospace and defence industries, harnessing newmethods for enhancing its customers' performance and profitability. Umeco also has significant manufacturing interests in advanced compositematerials for a growing range of applications in its core aerospace and defencemarkets and in other high performance technology industries such as motor sport,automotive and wind energy. Listed on the London Stock Exchange, Umeco had turnover of £293.2 million in theyear to 31 March 2006. Umeco is managed through three divisions:- Umeco Components - a leading international provider of value-added distributionand supply chain outsourcing services to customers in the aerospace & defencemarket. With its specialisation in the supply of small components andsophisticated IT systems, its growing global customer base can enjoy significantoperational, cost and working capital benefits. Customers include Rolls-Royce plc, BAE SYSTEMS, Snecma Groupe, Parker Aerospace,Goodrich , Bombardier, Lockheed Martin and the US Department of Defense. Umeco Composites - a provider of a complete range of advanced compositematerials and specialist chemical products principally to the aerospace,motorsport, automotive and wind energy markets. A growing range of value-addedoutsourcing services is provided to major customers. Customers include Boeing, Airbus, BAE SYSTEMS, Goodrich Aerostructures, BritishAirways, Lufthansa Technik, a number of manufacturers of high performance supercars and Formula 1 teams including Team McLaren Mercedes. Umeco Repair and Overhaul - a provider of a comprehensive accessory repair andinstallation service to operators of fixed and rotary wing aircraft ranging insize from executive jets through to a Boeing 747. Customers include British Airways, KLM, Swiss, Alitalia Express, BristowHelicopters, BAE SYSTEMS, Saab Aircraft and Pratt & Whitney. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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