Following the satisfaction of regulatory and legal conditions, GKN Aerospace’s acquisition of Fokker Technologies, announced in July, has now completed.
The combining of Fokker Technologies with GKN Aerospace establishes a business with the widest range of capabilities in composite and advanced metallic products, and strong competencies in wiring systems and landing gear, both potential growth areas as the need to meet ever more stringent environmental targets increases demand for innovative, integrated, lighter structures. Fokker also brings a leading global brand in after market services to the combination.
Kevin Cummings, Chief Executive, GKN Aerospace, said:
“The addition of Fokker Technologies to GKN Aerospace strengthens our core aerostructures business, increases our exposure to key growth platforms, expands our global manufacturing footprint and broadens the innovative technological offerings we can provide to our customers.”
The combined business has sales of over £2.8bn and employs around 17,000 people in 61 locations across the globe. Fokker Technologies, under the current leadership, is a new division within GKN Aerospace, headquartered in The Netherlands. Its brand will continue to promote its strong heritage of technology and customer service.
Hans Büthker, CEO,Fokker Technologies, said:
“Joining GKN Aerospace is an exciting opportunity for Fokker Technologies and provides us an enhanced framework to expand our technologies and develop our products to meet the challenges of a very competitive, global marketplace. The partnerships we have established with customers, government and knowledge institutes can only benefit from being associated with a strong, long established company like GKN Aerospace with their technology driven culture. ”
The integration of Fokker Technologies is expected to continue throughout Q4 2015 combining best practices of both organisations to create a world beating business.
Source: Fokker Technologies
Date: Oct 29, 2015