CIRCOR Aerospace Announces Acquisition of Bodet Aero
06 March 2009 - 4:45AM
Marketwired
CIRCOR Aerospace Products, a CIRCOR International (NYSE: CIR)
business, has completed the acquisition of Bodet Aero of Chemille,
France and is acquiring the related ATLAS Productions of Tangier,
Morocco from Groupe BMP. Bodet Aero and ATLAS are leading
manufacturers of electro-mechanical and fluidic controls for
aerospace, defense and transportation markets and will join
Industria, S.A.S. of Paris, France, to increase the CIRCOR
Aerospace Group capability in the European market.
Bodet Aero has over 20 years of experience in the design and
manufacture of specialized aircraft controls system components
including aircraft landing gear wheel speed tachometers, flight
control pedal transmitters, speed reducers and integrated fluidic
and electro-mechanical controls components. ATLAS Productions was
formed in 2005 in the Tangiers, Morocco free trade zone and
specializes in low cost manufacturing of aerospace components.
Bodet Aero and ATLAS products are found on a full range of
aerospace platforms, including the Airbus family of commercial
aircraft, defense applications and business aviation platforms
including the Dassault Falcon 7X.
CIRCOR Aerospace is a global leader in the design, manufacture
and testing of high reliability, severe service fluid controls,
control systems, and integrated landing gear systems. CIRCOR
Aerospace has design and manufacturing centers in North America,
Europe and Asia, producing aerospace products under the Circle
Seal, Aerodyne, Industria, Motor Technology and Loud brand
names.
Jacques Bodet, President of Bodet Aero, stated, "I am pleased to
combine my business with Industria and CIRCOR Aerospace and will
stay on to lead the business into the future. I believe CIRCOR's
aerospace experience and global reach will significantly expand the
growth opportunities available to our business."
Commenting on the transaction, Chris Celtruda, Group Vice
President for CIRCOR Aerospace Products, stated, "We are excited to
have the Bodet Aero and ATLAS capabilities as part of the CIRCOR
Aerospace team. Our strategy of expanding our electro-mechanical
controls product line and continued focus on world class
manufacturing make this a great fit for our aerospace business. We
look forward to continuing Bodet's long tradition of engineering,
manufacturing and service excellence and look forward to the
ability build on the strong Bodet reputation."
CIRCOR International is headquartered in Burlington,
Massachusetts and the CIRCOR Aerospace Products group is
headquartered in Corona, California. Industria S.A.S. is a
wholly-owned France based subsidiary of the CIRCOR Aerospace
Group.
EuroConsult Inc. acted as financial adviser to CIRCOR on this
transaction, and Financiere MP acted as exclusive adviser to BMP.
Also, White and Case acted as legal counsel to BMP and CMS Bureau
Francis Lefebvre as legal counsel to CIRCOR.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Reliance should not be placed on forward-looking
statements because they involve unknown risks, uncertainties and
other factors, which are, in some cases, beyond the control of
CIRCOR. These statements include, but are not limited to, the
Company's expectations related to the integration and performance
of the Bodet Aero acquisition. Actual events, performance or
results could differ materially from the anticipated events,
performance or results expressed or implied by such forward-looking
statements. BEFORE MAKING ANY INVESTMENT DECISIONS REGARDING OUR
COMPANY, WE STRONGLY ADVISE YOU TO READ THE SECTION ENTITLED "RISK
FACTORS" IN OUR MOST RECENT ANNUAL REPORT ON FORM 10-K, WHICH CAN
BE ACCESSED UNDER THE "INVESTORS" LINK OF OUR WEBSITE AT
WWW.CIRCOR.COM. We undertake no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Visit www.circoraerospace.com
Contact: Jackie Osborne CIRCOR Aerospace, Inc. Mobile:
951-310-2544 Office: 951-270-6221 E-mail: Email Contact
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