B/E Aerospace Announces the Acquisition of Draeger Aerospace GmbH.WELLINGTON, Fla. -- B/E Aerospace, Inc. (Nasdaq:BEAV BEAV Binary Editor and Viewer ), the world's leading manufacturer of aircraft cabin An aircraft cabin is the section of an aircraft in which passengers travel, often just called the cabin. At cruising altitudes, the surrounding atmosphere is too thin to breathe without an oxygen mask, so cabin pressurization adapts the cabin to atmospheric pressures. interior products and a leading aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. distributor of aerospace fasteners fasteners In construction, connectors between structural members. Bolted connections are used when it is necessary to fasten two elements tightly together, especially to resist shear and bending, as in column and beam connections. , today announced that it has acquired Draeger Aerospace GmbH (Draeger), from Cobham PLC Cobham plc (LSE: COB) is a British manufacturing company based in Wimborne Minster, Dorset, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Cobham was founded as Flight Refuelling Ltd. of Dorset, England for approximately $80 million. The acquisition which is an all cash purchase will be funded with cash on hand. The transaction is expected to be modestly accretive to earnings per share in 2007, the first full year following the acquisition, and significantly accretive in 2008 and beyond due to strong manufacturing, research and development, sales and logistics synergies between our two organizations. With over 100 years of experience in the oxygen delivery business, Draeger is a leading supplier of components and integrated systems to supply oxygen systems for both civil and military aircraft. In the civil market, Draeger has well-established strengths in both chemical and gaseous oxygen systems. Draeger, like B/E, is well-positioned on both Airbus and Boeing aircraft. In the military market, Draeger is the prime contractor for oxygen systems for the Eurofighter Typhoon This article is about a fighter aircraft. For the computer game, see Eurofighter Typhoon (computer game). “EF2000” redirects here. For the computer game, see EF2000 (computer game). , as well as providing maintenance and repair services for the German air force's in-service oxygen systems. The integration of Draeger with B/E's existing oxygen business will create substantial operating efficiencies for B/E's OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and partners (Airbus, Boeing and BAe) and will allow B/E to offer the broadest oxygen system product line in the industry, including passenger and crew oxygen as well as oxygen storage and distribution. Draeger's expertise in Chemical Oxygen Systems, Super Integrated Passenger Service Units (SIPSU) and advanced military oxygen systems complements B/E's expertise in Gaseous Oxygen Systems, state of the art oxygen delivery technologies (Pulse(TM) Oxygen) and the industry's most advanced Crew Oxygen Systems for both the commercial and military markets. In addition, Draeger's newly developed SIPSU combined with B/E's oxygen systems will significantly increase B/E's content on the new Airbus A380 and the Boeing B787. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties. B/E's actual experience may differ materially from that anticipated in such statements. Factors that might cause such a difference include those discussed in B/E's filings with the Securities and Exchange Commission, including but not limited to its most recent Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Form 10-Q Form 10-Q See 10-Q. . For more information, see the section entitled "Forward-Looking Statements" contained in B/E's Form 10-K and in other filings. The forward-looking statements included in this news release are made only as of the date of this news release and, except as required by federal securities laws, we do not intend to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances. About B/E Aerospace, Inc. B/E Aerospace, Inc. is the world's leading manufacturer of aircraft cabin interior products, and a leading aftermarket distributor of aerospace fasteners. B/E designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E manufactured products include aircraft cabin seating, lighting, oxygen, and food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. preparation and storage equipment. The company also provides cabin interior design, reconfiguration and passenger-to-freighter conversion services. Products for the existing aircraft fleet - the aftermarket - generate about 60 percent of sales. B/E sells and supports its products through its own global direct sales and product support organization. For more information, visit B/E's website at http://www.beaerospace.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion