Meggitt Signs $200M Deal to Acquire Cobham’s Advanced Composites Business

acquisitionCobham has agreed to sell its advanced composites business to British aerospace equipment manufacturer Meggitt for $200 million cash, MarketWatch reported Monday.

Ed Ballard writes the business posted $81.1 million in sales during 2014 and offers exhaust flaps, air-to-air refueling systems and other aircraft structures to U.S. and British customers.

Meggitt CEO Stephen Young said the company aims to expand its aircraft materials and manufacturing technologies portfolio through the acquisition.

Cobham said it wants to concentrate on business areas that have an established market position.

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