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Consolidation ahead for European aerospace component suppliers

27-Sep-2010

B787 and A380 passenger door supplier, Latecoere, has held discussions with "more than one" potentially interested party, according to the company’s new Chairman, Pierre Gadonneix.

Mr Gadonneix told a press conference Latecoere “must not exclude any scenario” as Europe’s aerospace suppliers look to consolidate. CEO, Francois Bertrand told Bloomberg, “We believe we need to take a European approach.”

Across the Atlantic, Precision Castparts Corp and TransDigm Group Inc are bidding for rival aircraft component maker McKechnie Aerospace, which is owned by private-equity firm JLL Partners Inc and a unit of Morgan Stanley. Carlyle Group is also reportedly bidding for McKechnie, which manufactures fasteners, latches and valves for Boeing and Airbus aircraft.

Airbus’ parent EADS surged 3.8% on Friday, while Boeing gained 3.1%.

Selected Original Equipment Manufacturers daily share price movements (% change): 24-Sep-2010

Aveos Fleet Performance wins AerCap MRO deal

Elsewhere, Aveos Fleet Performance has signed a five-year agreement for engine maintenance with AerCap, effective in Aug-2010, covering the maintenance of the lessor’s CFM56 engines. AerCap gained 1.4% on Friday.

Selected Aviation Suppliers & Leasing daily share price movements (% change): 24-Sep-2010


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