Contact Information: Contact: Jackie Osborne CIRCOR Aerospace, Inc. Mobile: 951-310-2544 Office: 951-270-6221 E-mail:
CIRCOR Aerospace Announces Acquisition of Bodet Aero
| Source: CIRCOR Aerospace, Inc.
PARIS--(Marketwire - March 5, 2009) - CIRCOR Aerospace Products, a CIRCOR International
(NYSE : CIR ) business, has completed the acquisition of Bodet Aero of
Chemille, France and is acquiring the related ATLAS Productions of Tangier,
Morocco from Groupe BMP. Bodet Aero and ATLAS are leading manufacturers of
electro-mechanical and fluidic controls for aerospace, defense and
transportation markets and will join Industria, S.A.S. of Paris, France, to
increase the CIRCOR Aerospace Group capability in the European market.
Bodet Aero has over 20 years of experience in the design and manufacture of
specialized aircraft controls system components including aircraft landing
gear wheel speed tachometers, flight control pedal transmitters, speed
reducers and integrated fluidic and electro-mechanical controls components.
ATLAS Productions was formed in 2005 in the Tangiers, Morocco free trade
zone and specializes in low cost manufacturing of aerospace components.
Bodet Aero and ATLAS products are found on a full range of aerospace
platforms, including the Airbus family of commercial aircraft, defense
applications and business aviation platforms including the Dassault Falcon
7X.
CIRCOR Aerospace is a global leader in the design, manufacture and testing
of high reliability, severe service fluid controls, control systems, and
integrated landing gear systems. CIRCOR Aerospace has design and
manufacturing centers in North America, Europe and Asia, producing
aerospace products under the Circle Seal, Aerodyne, Industria, Motor
Technology and Loud brand names.
Jacques Bodet, President of Bodet Aero, stated, "I am pleased to combine my
business with Industria and CIRCOR Aerospace and will stay on to lead the
business into the future. I believe CIRCOR's aerospace experience and
global reach will significantly expand the growth opportunities available
to our business."
Commenting on the transaction, Chris Celtruda, Group Vice President for
CIRCOR Aerospace Products, stated, "We are excited to have the Bodet Aero
and ATLAS capabilities as part of the CIRCOR Aerospace team. Our strategy
of expanding our electro-mechanical controls product line and continued
focus on world class manufacturing make this a great fit for our aerospace
business. We look forward to continuing Bodet's long tradition of
engineering, manufacturing and service excellence and look forward to the
ability build on the strong Bodet reputation."
CIRCOR International is headquartered in Burlington, Massachusetts and the
CIRCOR Aerospace Products group is headquartered in Corona, California.
Industria S.A.S. is a wholly-owned France based subsidiary of the CIRCOR
Aerospace Group.
EuroConsult Inc. acted as financial adviser to CIRCOR on this transaction,
and Financiere MP acted as exclusive adviser to BMP. Also, White and Case
acted as legal counsel to BMP and CMS Bureau Francis Lefebvre as legal
counsel to CIRCOR.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. Reliance should not be
placed on forward-looking statements because they involve unknown risks,
uncertainties and other factors, which are, in some cases, beyond the
control of CIRCOR. These statements include, but are not limited to, the
Company's expectations related to the integration and performance of the
Bodet Aero acquisition. Actual events, performance or results could differ
materially from the anticipated events, performance or results expressed or
implied by such forward-looking statements. BEFORE MAKING ANY INVESTMENT
DECISIONS REGARDING OUR COMPANY, WE STRONGLY ADVISE YOU TO READ THE SECTION
ENTITLED "RISK FACTORS" IN OUR MOST RECENT ANNUAL REPORT ON FORM 10-K,
WHICH CAN BE ACCESSED UNDER THE "INVESTORS" LINK OF OUR WEBSITE AT
WWW.CIRCOR.COM. We undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events or otherwise.
Visit www.circoraerospace.com