LONDON — Britain's GKN Aerospace is acquiring Dutch aero structures producer Fokker Technologies in a €706 million deal the two companies announced July 28.

The acquisition from owners Arle Capital , which GKN said it hopes to complete by the end of the year, will create an aerospace operation with revenues of around €3.9 billion Euro and employ over 17,000 people.

Fokker had sales of €758 million Euro last year in the military, civil and business jet sectors.

One of it's key programs is the F-35, where it produces a wide range of structures for the aircraft.

Much of the GKN business is based in the US, where it produces aerostructures, engine components and various other parts for Boeing, Lockheed Martin, General Electric and other key military and civil suppliers. Fokker also has operations in the US and other international locations in Asia and Europe.

Kevin Cummings, CEO at GKN Aerospace, said: "Strategically, this acquisition strengthens GKN Aerospace's position as a market leader, enhances its global manufacturing footprint and adds new technology. It also increases GKN's shipset value on key growth programmes in both the commercial and military markets. The addition of Fokker further strengthens GKN Aerospace's ability to meet the demands of our global customers — now and into the future."

Fokker specialiszes in the design, development and production of lightweight aero structures, electrical wiring interconnection systems and landing gear. It also provides maintenance, modification and logistic services to aircraft owners and operators.

Once the deal is completed company will become an operating unit of GKN but retain its current management , name and headquarters at Papendrecht in the Netherlands.

Andrew Chuter is the United Kingdom correspondent for Defense News.

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