Printer Friendly
The Free Library
23,383,293 articles and books


Dunlop Aerospace being bought by Dorset firm.

DUNLOP AEROSPACE in Coventry is being taken over by another UK company in a deal reported to be worth pounds 408 million.

Aerospace and defence company Meggitt, based in Dorset, is expected to finalise the buyout deal for Dunlop next month subject to shareholder agreement.

The Coventry design and manufacturing complex at Holbrooks employs around 800 people and its new owners are looking forward to expanding the business which is a major supplier of wheels, brakes and hydraulics for the world- wide aircraft industry.

The Coventry division comprises four business units: braking systems, polymers and composites, fluid dynamics and aftermarket services.

Dunlop Aerospace has recently experienced a surge in activity with key contracts for component supplies for the Joint Strike Fighter and Airbus A380. Last year it made operating profits of pounds 35.1 million.

Terry Twigger, Meggitt chief executive officer, said: "We believe that Meggitt can provide these businesses with the leadership and critical mass to make them even more successful than they are today.

"The combined businesses will be able to explore new markets and technologies in their pursuit of strategic growth. There will be ongoing support for key technologies such as electric brakes and lightweight metal matrix materials which will deliver significant benefits to the aerospace industry."

David Shaw, CEO of Dunlop Aerospace, said: "Meggitt is a very appropriate strategic buyer for the D&M Division. The acquisition of the Dunlop companies provides Meggitt with key intellectual property in new products and complementary market growth in related products".

Meggitt says the Coventry operation will continue under the leadership of David Johnson, managing director, and will integrate under the corporate guidance of Meggitt, as it continues its long-term growth programmes.
COPYRIGHT 2004 Coventry Newpapers
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Coventry Evening Telegraph (England)
Date:Jul 6, 2004
Words:282
Previous Article:Alan's royal recognition.
Next Article:Thanks for saving my life; LITTLE BOY ESCAPED DEATH WITH THE CARE AND HELP OF MEDICAL STAFF.



Related Articles
Aerospace giant in major jobs boost; pounds 8M CASH INJECTION FOR CITY-BASED COMPANY.
Meggitt in talks on Dunlop bid.
Seventy jobs to be axed at Dunlop.
Big plans for firm.
High hopes for new type of aircraft brakes; business report.
27 jobs to be lost at Dunlop; REDUNDANCIES: Workers 'gobsmacked' by news.
Honour for former city apprentices.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters