25 November 2005
25 November 2005
UK aerospace and automotive engineering group Hampson Industries is to acquire California-based Coast Composites, a manufacturer of tooling systems for composite structures, in a bid to benefit from the trend towards composite airframes.
In addition to acquiring Coast for $56 million, Hampson is to pay $25.2 million for California-based Lamsco West, a leading supplier of laminated shims and sheet materials to the aerospace industry. Both deals are expected to close in December.
The acquisitions bring the group access to “high-growth” programmes such as the Boeing 787, Lockheed Martin F-35 Joint Strike Fighter, Lockheed/Boeing F/A-22 Raptor and several next-generation unmanned air vehicles. They will “transform Hampson’s strategic presence in aerospace, notably in laminates and high- growth composites, which are increasingly replacing metals in current and next-generation aircraft manufacture”, says Kim Ward, Hampson chief executive.
Established in metal components and structures, Hampson began moving into composites with its $41 million acquisition in December last year of US transparencies and plastics specialist Texstars.
The Lamsco acquisition will make the company the dominant supplier of laminated shims for aerospace applications.
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