11th Jan 2006 07:00
Cobham PLC11 January 2006 11 January 2006 COBHAM ACQUIRES 100% SHARES IN FLIGHT INSPECTION COMPANIES IN UK AND GERMANY Cobham plc (Cobham) announces that its Services Division has agreed to acquirethe minority interest in 51% owned UK based subsidiary Flight Precision Limited(FPL) and the entire issued share capital of Aerodata Flight Inspection GmbH(AFI) in Germany, from Aerodata AG. The acquisitions, for a debt freeconsideration of up to €11.2m in cash, are expected to become unconditional inthe first quarter of 2006 after the satisfactory fulfilment of regulatory andother conditions. FPL and AFI inspect and calibrate systems essential to the safe operation ofaircraft at commercial and military airports, including instrument landingsystems, radars and other navigational aids for take-off, landing and en-routenavigation, including naval navigation aids. FPL and AFI have customers in 28 countries including the UK, Netherlands, Spain,Portugal, Germany and countries in North Africa and the Middle East. Theacquisitions will enhance Cobham's market leading position in the highlyspecialised flight inspection service market and will be immediately earningsenhancing. Alex Hannam, Group Managing Director, Cobham Services Division, said,"The flight inspection service market worldwide is growing steadily with theemergence of new airports and equipment upgrades and a trend by military andcivil organisations to outsource flight inspection activities. With an enlargedfleet of common aircraft and bases in the UK and mainland Europe we are wellplaced for further growth." ENQUIRIESCobham plcAlex Hannam, Group Managing Director Cobham Services +44 (0) 1202 409001Warren Tucker, Group Financial Director +44 (0) 1202 882020 Weber Shandwick Square MileSusan Ellis, Helen Thomas +44 (0)20 7067 0746 NOTESCobham plc - with five technology divisions and one in a service sector, Cobhamdesigns and manufactures equipment, specialised systems and components for theaerospace, defence, communications, law enforcement and national securitymarkets, and operates, maintains and modifies aircraft, particularly in relationto special mission flight operations. Cobham Services Division - focuses on flight operations and services with afleet of more than 150 fixed and rotary wing aircraft and the provision ofspecialist composite capabilities. Flight operation capabilities includemilitary training, special mission flight operations, and outsourced freight andpassenger services. The division also has a comprehensive engineering capabilityfor aircraft modification and maintenance, and provides on aircraft maintenancefor the UK MoD's fleet of Nimrod and Sentry aircraft. Composite capabilities include the design and manufacture of radomes for navaland aircraft applications, including the Tornado and Typhoon, and specialistparts for the aerospace, defence and rail industries. Flight Precision Limited (FPL) and Aerodata Flight Inspection GmbH (AFI) - FPLis co-located with FR Aviation at Durham Tees Valley Airport, County Durham,England, using a fleet of four King Air 200 aircraft operated by FR Aviation,and AFI operates from its base at Braunschweig Research Airport, Lower Saxony,Germany with one King Air 200 aircraft. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Cobham