Consolidation ahead for European aerospace component suppliers
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