Meggitt has acquired the U.S.-based composite components business of EDAC Technologies for $340 million in an effort to enter the jet engine and airframe components market, Defense News reported Tuesday.Andrew Chuter writes that British aerospace engineering company purchased the composites business from Greenbriar Equity Group and others that purchased EDAC in 2013.
The acquisition will add to Meggitt’s polymers and composites division, the report said.
Chuter reports that composites business has projected revenues of $104 million in 2015, 15 percent of which are from defense or military sales.
In August, Meggitt agreed to purchase Cobham‘s advanced composites business for $200 million cash.
