Moog [MOG.A, MOG.B] recently said it has acquired United Kingdom-based Fernau Avionics Ltd., for $45 million in cash in a deal that complements the company’s current navigation aids business.
“Fernau, with a robust portfolio of products and services, significantly expands our capabilities in this market and extends our customer base throughout Europe and Asia,” Warren Johnson, president of Moog’s Aircraft Group, said in a statement.
Fernau supplies ground-based air navigation systems for military, naval and civil aviation.
Fernau had $22.1 million in sales last year. Moog expects Fernau to add $14.7 million to its sales for the remaining seven months of FY ’09. The acquisition is expected to be neutral to earnings.