10 Mar 09. Aerospace and defence (A&D) deal-making stalled in 2008 as companies andinvestors faced new market realities according to Aerospace & DefenceDeals 2008 the annual review of merger and acquisition activity in theglobal aerospace and defence industry, by PricewaterhouseCoopers. Totaldeal value in the sector more than halved from US$32.9bn to US$14.3bn. The number of private equity deals more than halved from 77 in 2007 to just 31 in 2008 with a total value of US$2.4bn down from US$16bn in 2007. In fact, private equity deals now amount to only 17% of total A&D value, down from 49% in 2007. The Jet Aviation deal was the only US$1bn plus deal in 2008, compared to seven similar in 2007 involving private equity players.
19 Feb 09. BAE Systems: Preliminary Results. BAE Systems announced (19 Feb 09) Preliminary Results for the year ended 31 Dec 08. Sales were £18,543m (£15,710m in 2007) and profit before tax £2,371m (£1,235m). At year end, the order book was valued at £46,500m (£38,600m).
Comment: In an accompanying statement, the Company lists its home markets as the US, UK, Saudi Arabia, Australia, Sweden and South Africa (in that order) while seeking “to establish an industrial presence in new markets, such as India”. As well as much else, the Results note that steel cutting for the first future aircraft carrier is planned for Spring 2009 and that long lead items have been ordered for the fifth Astute boat. (Source: DNA DEFENCE NEWS ANALYSIS, Issue 09/09, 23 Feb 09)
12 Feb 09. Rolls-Royce Group: Preliminary Results. Rolls-Royce announced (12 Feb 09) Preliminary Results for the year ended 31 Dec 08. Sales were £9,082m (£7,435m in 2007) and the underlying profit before tax £880m (£800m). At year end, the order book was valued at £55,500m (£45,900m).
Comment: Within its Defence Aerospace sector, the Company drew attention to a £700m (Private Finance Initiative) contract for the Future Strategic Tanker Aircraft programme and service contracts worth over £770m. The Marine sector includes a £96m order to power the two future aircraft carriers. (Source: DNA DEFENCE NEWS ANALYSIS, Issue 09/09, 23 Feb 09)
13 Mar 09. Triumph Group, Inc. (NYSE:TGI) today announced the acquisition of Saygrove Defence & Aerospace Group, Ltd., a provider of motion control and actuation products to the aerospace and defense industries. The acquired business, which will operate as Triumph Actuation & Motion Control Systems-UK, Ltd. and be part of Triumph Aerospace Systems Group, is expected to add approximately $11m of revenue for fiscal year 2010 and will be immediately accretive to earnings. Saygrove, which is located in Buckley, U.K., designs and builds proprietary advanced control products for flight actuation and motor control applications in all-electric aircraft and Unmanned Aerial Vehicles (“UAVs”). Their range of products includes all-electric solutions, fully integrated electro-mechanical systems, multi-channel electronic controllers, motor/gearbox combinations, and a range of sensors. (Source: Google)
10 Mar 09. The Swiss RUAG group bought GEKE Schutztechnik GmbH (GST) for an undisclosed sum, a move intended to boost its presence in the international marketplace. The acquisition gives RUAG, known for its all-around protection for heavier armored vehicles, more expertise and production capacity in lighter ballistic protection. Headquartered in Lichtenau, Germany, GST handles GEKE’s protection efforts. RUAG says it intends to draw upon GST’s technologies to provide add-on protection packages and integrated armor for vehicle components, especially
protection against mines, improved explosive devices and explosively formed penetrators. The new partnership will be able to “react more quickly to counter current and future threats facing troops deployed in conflict regions,” RUAG said. Currently, RUAG Land Systems’ ballistic protection efforts focus on add-on gear to strengthen vehicle underbellies against mines, ro