CLEVELAND, Dec. 16 /PRNewswire-FirstCall/ -- TransDigm Group Incorporated
(NYSE: TDG) announced today that it has acquired the stock of Aircraft Parts
Corporation ("APC") from Unison Industries LLC, a wholly-owned subsidiary of
General Electric Company's GE Aviation business unit, for approximately $68
million in cash. APC has been a supplier of proprietary, highly engineered
components to the commercial aerospace industry for almost 50 years. APC,
located in Holtsville, New York, has unaudited annual revenues of
approximately $33 million.
APC designs and manufactures starter generators, generator control units,
and related components for turbine engines. Major applications include the
Citation family of business jets, the Bell and Augusta lines of commercial
helicopters, the Bombardier Lear jets and the Dash 8-400 turboprops as well as
numerous other applications. Over 90% of APC's sales are to commercial
aerospace customers, and a significant portion is to the aftermarket. The
products fit well with TransDigm's existing motor and power conditioning and
control businesses.
W. Nicholas Howley, Chairman and CEO of TransDigm Group Incorporated,
stated, "APC's line of proprietary, highly engineered starter generators and
generator control units complement TransDigm's product offering in the
commercial aerospace market, and their aftermarket content fits TransDigm's
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, and NiCad batteries/chargers.
SOURCE TransDigm Group Incorporated
CONTACT: Sean Maroney, Investor Relations, TransDigm Group Incorporated,
+1-216-706-2945, ir@transdigm.com