3rd Oct 2006 07:00
UMECO PLC03 October 2006 3 October 2006 Umeco plc UMECO EXPANDS FURTHER IN EUROPE WITH ACQUISITION OF ANTAVIA Umeco plc ("Umeco"), an international provider of supply chain and repair andoverhaul services and advanced composite materials primarily to the aerospace &defence industries, announces its further expansion in Europe with theacquisition of Antavia SAS ("Antavia") for a maximum cash consideration of €12.8million. The acquisition creates Umeco's first repair and overhaul base inmainland Europe. Antavia (www.antavia.fr), based in Toulouse, France, is a privately ownedprovider of repair and overhaul services to the aerospace industry. The vendor,Serge Dumas, will remain with Antavia. The business offers maintenance, repairand overhaul of a wide range of aircraft equipment including wheels and brakes,landing gear, cabin equipment, hydraulic systems, lights and electronics andelectromechanical actuators. This broad capability and Antavia's excellentcustomer base in both Europe, North Africa and the Far East is highlycomplementary to Umeco's existing repair and overhaul activities. In the yearended 31 December 2005 Antavia had sales of €8.9 million. Clive Snowdon, Chief Executive of Umeco plc, commented: "The acquisition ofAntavia continues our expansion in mainland Europe following the acquisition ofProvest in Italy at the end of last year. The business becomes our first repairand overhaul base in France and will complement our existing service offeringsthrough our AEM, Avionics Mobile Services and Aeromedic Innovations operationsacross the world. "Antavia has a strong client base that takes advantage of their wide range ofservices and we are delighted to be further improving the breadth and highlevels of service enjoyed by existing Umeco customers through this acquisition." - Ends- For further information, please contact: Umeco plc 01926 331800Clive Snowdon, Chief Executive Hogarth Partnership Ltd 020 7357 9477John Olsen / Barnaby Fry 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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