TransDigm Announces the Acquisition of Acme Aerospace
July 27 2009 - 7:00AM
PR Newswire (US)
CLEVELAND, July 27 /PRNewswire-FirstCall/ -- TransDigm Group
Incorporated (NYSE:TDG) announced today that it has acquired the
stock of Acme Aerospace, Inc. (Acme) from a subsidiary of Actuant
Corporation (NYSE:ATU) for approximately $40 million in cash. Acme
supplies proprietary, highly engineered components to the
commercial aerospace industry. Acme has annual revenues of
approximately $18 million and employs approximately 90 people in
its Tempe, Arizona facility. Acme produces fibrous nickel cadmium
(FNC) main ship batteries, battery chargers, battery back-up
systems and power conversion equipment. The majority of the
company's revenues are attributable to the Boeing 777 program.
Other platforms include a range of Boeing aircraft such as the
B737, B747, B757, B767 and MD 90, the Apache helicopter, C-17, F-18
as well as certain regional and business jets. Over 80% of Acme's
sales are to commercial customers and approximately 60% of total
sales come from the aftermarket. W. Nicholas Howley, Chairman and
CEO of TransDigm Group Incorporated, stated, "Acme's line of
proprietary highly engineered FNC batteries, battery chargers, and
power conversion equipment complement TransDigm's Avionic
Instruments and MarathonNorco businesses. The large and growing
fleet of Boeing 777 aircraft should allow this portion of the
business to grow at above market rates. Additionally, the high
proprietary content and significant aftermarket revenues fit well
with TransDigm's overall business strategy." TransDigm Group
Incorporated, through its wholly-owned subsidiaries, is a leading
global designer, producer and supplier of highly engineered
components for use on nearly all commercial and military aircraft
in service today. Major product offerings, substantially all of
which are ultimately provided to end-users in the aerospace
industry, include mechanical/electromechanical actuators and
controls, ignition systems and components, gear pumps, specialized
valves, engineered connectors, power conditioning devices,
specialized fluorescent lighting and AC/DC electric motors,
aircraft audio systems, engineered latches and cockpit security
devices, lavatory hardware and components, hold open rods and
locking devices, specialized cockpit displays, elastomers, NiCad
batteries/chargers and starter generators and related components.
Actuant Corporation is a diversified industrial company whose
businesses are market leaders in branded hydraulic and electrical
tools and supplies, umbilical, rope and cable solutions as well as
highly engineered position and motion control systems. Actuant is
based in Butler, Wisconsin and trades on the NYSE under the symbol
ATU. DATASOURCE: TransDigm Group Incorporated CONTACT: Sean
Maroney, Investor Relations, TransDigm Group, +1-216-706-2945,
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