GKN Aerospace Completes the TAMG Acquisition - and Explains the Business Benefits
(Source: GKN Aerospace; issued June 29, 2007)
GKN Aerospace today announces the successful completion of the acquisition of Teleflex Aerospace Manufacturing Group (TAMG).

The amalgamation of TAMG with GKN Aerospace creates a market-leading supplier to the aero-engine sector and takes aero-engine products to approximately 25% of GKN Aerospace total revenues.

Marcus Bryson, Chief Executive of GKN Aerospace states: “Propulsion Systems is one of the cornerstones of our growing business over the long term. This latest acquisition is an excellent strategic fit for us. Where we have an existing successful operation supplying critical elements of the cold section of the engine, TAMG grows our business into the hot and rotating areas and extends important metallic processing expertise - particularly in ECM, where TAMG has a particular competence."

GKN Aerospace’s existing operation comprises developing and supplying components such as fan blades, fan cases and inlet/exhaust frames which are manufactured from composite or metallic materials. The complementary TAMG product range comprises structural components in the engine, blisks/integral bladed rotors (IBR’s), outlet guide vanes (OGV’s), combuster cases, compressor and turbine blades. TAMG also has a highly advanced and technically competent Electro-Chemical Machining (ECM) activity – ECM offers very fast and efficient means of removing material from hard and soft metal alloys.

The acquisition increases GKN Aerospace’s exposure in the civil aero-engine sector, extending established relationships with all the leading aero-engine primes and adding business on many commercial engines – specifically, on the CFM56 and the GE90. It also grows activity in the business jet sector with strong positions on the PW600 series for the Eclipse 500, Cessna Mustang and Embraer Phenom 100 light jets.

In the military sector, the combined operation significantly increases GKN Aerospace business on the F-22 and JSF programs, already worth over $5m and $1.5m per ship set respectively, and grows the JSF engine involvement - where GKN Aerospace has recently delivered the world’s first composite engine front end for the F-135 engine.

With the TAMG acquisition, GKN Aerospace adds $135m to the Company’s $1.5bn (2006 figure) sales, gains 7 sites in the USA, Mexico, the UK and France bringing the total number of operating sites globally to 31, and increases employee numbers from 6650 to 7250.

Bryson concludes: "The acquisition combined with our recent purchase of Stellex Aerostructures with its titanium machining expertise, creates a strong, consolidated business offering a highly efficient and flexible, service in the design and manufacture of complex composite and metallic components and assemblies."

GKN Aerospace is the aerospace operation of GKN plc, one of the world's largest engineering companies. GKN Aerospace serves a global customer base with some 7250 personnel operating in North and South America, Australia, the Asia Pacific and Europe. With sales of $1.5bn, the business is focused around three major product areas - aerostructures, propulsion systems and transparencies, plus a number of specialist product areas - electro-thermal ice protection, fuel and flotation systems, and bullet resistant glass.


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