Textron Inc. (NYSE:TXT) announced today it has signed agreements to acquire two flight simulation and aircraft training product companies – Mechtronix Inc., located in Montreal, Quebec and OPINICUS Corporation, located in Lutz, Florida. These companies combined with Textron Systems’ existing training and simulation business, which serves the military aircraft market through its facilities in Goose Creek, South Carolina, will form Textron Simulation & Training Systems. The total annual revenue for the new business is expected to exceed $100 million.
Mechtronix’ primary products include the FFSX™ and FFTX™ line of high-fidelity simulators and the FFT™ and Ascent® line of flight trainers, as well as classroom training solutions. Founded in 1987, Mechtronix serves the global aviation markets and has supplied airlines with more than 200 simulator systems.
OPINICUS is known for its ODYSSEY™ high-fidelity simulators, featuring innovations such as REALFeel® control loading and REALCue® motion controller. Since 1988 OPINICUS has provided turnkey simulator programs to many aviation industry leaders including Boeing, Lockheed Martin, Raytheon, Bell Helicopter, GE Aerospace, the FAA and several branches of the U.S. military.
"Mechtronix and OPINICUS each have a strong record of delivering advanced flight simulation technologies and services," said Textron Chairman & CEO Scott Donnelly. “Today’s pilots face an ever-expanding range of systems and controls within the cockpit, making realistic simulation essential for commercial and military flight training. By adding these businesses, we deepen Textron’s ability to fully serve the military, business and civil aviation industries,” he added. Both transactions are expected to close by the end of the year, subject to customary closing conditions.
Source: Textron Inc. (NYSE: TXT)
Date: Nov 25, 2013