Company Watch - SR Technics.For more company news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Sep 11, 2006Participating in the SR Technics investment is Dubai Aerospace Enterprise Wikipedia is not the place for advertisement or self-advertising. Dubai Aerospace Enterprise (DAE) was established in Dubai in February 2006, and is building a global aerospace, manufacturing and services corporation. , the recently launched investment vehicle for the emirate's global aerospace ambitions headed by former Honeywell Aerospace chief Bob Johnson. DAE will hold 30% of SRT. The third investor is Istithmar, a Dubai-based investment house established by the emirate in 2003. SRT management, which currently holds 11.7% of the company, will retain a 10% stake. Sep 8, 2006 SR Technics had been controlled by venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] 3i (56%) and Star Capital (20%), other institutional investors (12.7%) and SRT management, who acquired it following the collapse of Swissair. Earlier this year it said it had agreed with its controlling investors to conduct an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. before the end of 2006, but Turner said that sale of the company to the consortium ensures its continued growth and access to capital. In particular, he noted that both the Middle East region and India represent large opportunities for MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. providers. Sep 8, 2006 SR Technics revenues rose 17% last year to CHF1.36 billion and EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). increased 11% to SRT62 million. However, the company posted a net loss of CHF2.6 million largely owing to currency fluctuations. Sep 8, 2006 UAE investors buy control of SR Technics. A consortium of United Arab Emirates-based investors is to acquire 90% of SR Technics from its current owners in a transaction valued at CHF1.6 billion ($1.3 billion). The consortium is led by Mubadala Development, the investment vehicle of the Abu Dhabi government, which will own 40% of the Zurich-based maintenance, repair and overhaul Maintenance, Repair and Overhaul or MRO is a multi-billion dollar industry which works on international authorization rules to deliver a safe airline operation and to assure reliability and availability of customer fleets. company after the purchase is completed in about two months. Sep 8, 2006 |
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