Aerospace Group:

Business/Financial

Albany International Completes Acquisition Of Harris’ Aerostructures Business

By Cal Biesecker

Friday, April 8th, 2016

SHARE:

Albany International Completes Acquisition Of Harris’ Aerostructures Business

Albany International's legacy composites business makes LEAP fan blades for SNECMA. Photo: Albany International

Albany International Corp. [AIN] on Friday said it has completed its $210 million acquisition of Harris Corp.’s [HRS] Aerostructures business in a deal that complements its existing aerospace composites business.Harris acquired the Aerostructures business as part of its acquisition in 2015 of Exelis. Deal terms included $187 million in cash and assumption by Harris of a $23 million capitalized lease. The company will use the sale proceeds to pay down debt.Joe Morone, president and CEO of Albany International, said in…

Congress

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Legislation regarding equity investments by the Defense Department in critical mineral supply chains is needed to strengthen the larger defense industrial base and demonstrate to the “free market” that the […]

Congress

“Not Sure How They Get To Where They Wanna Be,” Calvert Says of $1.5 Trillion Defense Topline Proposal

As the federal government enters a third week of tardiness in a fiscal 2027 budget release, a big question is how the Pentagon will be able to spend $500 billion […]

Congress

Path Uncertain For $1.5 Trillion FY ‘27 Defense Topline After Trump Casts Doubt On Second Reconciliation Bill

The path to achieve the White House’s call for a $1.5 trillion defense topline in 2027 appears murkier now after President Donald Trump has cast doubt on the prospects of […]

Congress

Senate Budget Dems Push For Defense Reconciliation Spending Details, Cite ‘Slush Fund’ Concerns

Democrats on the Senate Budget Committee have raised “significant concern” with the Pentagon’s move to classify reconciliation spending plans, urging the department to provide more public details on how the […]