CIRCOR Announces Acquisition of Bodet Aero
March 05 2009 - 7:22AM
Business Wire
CIRCOR International, Inc. (NYSE: CIR), a leading provider of
valves and other highly engineered products for the
instrumentation, aerospace, thermal fluid and energy markets, today
announced that its Aerospace Products Group has completed the
acquisition of Chemille, France-based Bodet Aero from Groupe BMP.
Bodet Aero is a leading manufacturer of electro-mechanical and
fluidic controls for the aerospace, defense and transportation
markets. It has approximately $15 million in revenues and the
transaction is expected to be accretive to earnings in the first
year of combined operations.
�We are excited to be adding the capabilities of Bodet Aero to
CIRCOR�s presence in Europe, along with our Paris-based Industria
Controls operation,� said CIRCOR Chairman and Chief Executive
Officer Bill Higgins. �Expanding CIRCOR�s technology and customer
links in Europe is key to our growth strategy. Bodet Aero has
engineering and manufacturing capabilities and a reputation for
service excellence that make it a great fit for our aerospace
business in France and throughout Europe.�
Bodet Aero has more than 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. Bodet Aero products are
found on a full range of aerospace platforms, including the Airbus
family of commercial and military aircraft, as well as 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. The business
operates 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.
About CIRCOR International. Inc.
CIRCOR International, Inc. is a leading provider of valves and
other highly engineered products that allow customers around the
world to use fluids safely and efficiently in the instrumentation,
fluid regulation, aerospace and energy markets. More information is
available at www.circor.com.
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.
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