With a recent spate of acquisitions, British aerostructures firm GKN Aerospace is positioning itself as one of the key suppliers for the industry giants.
The purchase in June of California-based Sheets Manufacturing Co. (SMC) allowed GKN to secure major contracts from Boeing for the 737 MAX and 777Xprograms.
And now the addition of Dutch aerostructures company Fokker Technologies opens the door to additional work on the Airbus A350 XWB and the F-35 Joint Strike Fighter.
The €706 million ($779 million) acquisition from Arle Capital Partners -signed 28/July- also includes Fokker’s 5.5% share in the NH Industries consortium with Airbus Helicopters and Agusta Westland to produce the NH90 military utility helicopter.
Today, Fokker employs 5.000 and as aircraft component manufacturer and MRO provider remains the Netherlands’ aerospace champion, despite its troubled past.
GKN believes the purchase will position it as the global number 2 in aerostructures, behind Spirit AeroSystems, and number 3 in electrical systems behind Safran (Labinal) and Latecoere (Latelec).
“Fokker ticks all the boxes on GKN’s strategy,” CEO Nigel Stein told investors in London “It is a great fit, with attractive financials, and is a quality company that will add to our capability. We want to run Fokker the GKN way.”
On the A350 XWB, Fokker adds the composite outboard flaps to GKN’s work on the wing spars, windows and trailing edge parts.
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