13th Feb 2006 07:00
Cobham PLC13 February 2006 13 February 2006 COBHAM COMPLETES ACQUISITION OF 100% SHARES IN FLIGHT INSPECTION COMPANIES IN UK AND GERMANY Further to the announcement on 11 January 2006 and following the satisfactoryfulfilment of regulatory and other conditions, Cobham plc (Cobham) announcesthat its Services Division has now completed the acquisition of the minorityinterest in 51% owned UK based subsidiary Flight Precision Limited (FPL) and theentire issued share capital of Aerodata Flight Inspection GmbH (AFI) in Germany,for a total debt free consideration of up to Euro11.2m in cash. The acquisitions will enhance Cobham's market leading position in the highlyspecialised flight inspection service market and will be immediately earningsenhancing. ENQUIRIESCobham plcAlex Hannam, Group Managing Director Cobham Services +44 (0)1202 409 001Warren Tucker, Group Financial Director Cobham plc +44 (0)1202 882 020 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