Moog – MOG – Acquires Tritech International Limited
NYSE: MOG.A) announced that it has acquired Tritech International Limited. The purchase price is approximately £21 million in cash. Tritech, founded in 1991, is a leading designer and manufacturer of high performance acoustic sensors, sonars, video cameras and mechanical tooling equipment. The company had trailing 12 month revenues of $19 million.
Tritech, located in Aberdeenshire, Scotland, is an industry leader known for supplying equipment for the ROV (Remotely Operated Vehicle) and AUV (Autonomous Underwater Vehicle) markets. This acquisition will be reported as part of the Components Group. Moog Components Group supplies motion and fiber optic products and solutions to marine, medical, industrial, aerospace and defense applications.
“The acquisition of Tritech brings several very strong products to our marine portfolio, as well as an experienced team of individuals who have a reputation of delivering quality products and services to the ROV and AUV markets,” said Larry Ball, President of Moog Components Group.
Sales for Tritech are expected to add approximately $2 million to Moog’s sales for the remainder of the Company’s 2012 fiscal year, ending September 29, 2012, and $20 million in sales for fiscal year 2013. This acquisition is expected to be neutral to Moog’s earnings per share for fiscal years 2012 and 2013 due to first year purchase accounting adjustments.
Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment.
About Moog Inc. – MOG.A
Moog Inc. (MOG.A) is a global designer, manufacturer and integrator of precision motion and fluid controls and systems for a range of applications in aerospace and defense, industrial and medical markets. MOG.A operates in five segments: Aircraft Controls, Space and Defense Controls, Industrial Systems, Components and Medical Devices.
The Company’s subsidiaries include Advanced Integrated Systems, Ltd., CSA Engineering, Inc., Curlin Medical Inc., Flo-Tork Inc., Ingenieurburo Pieper GmbH, Mid-America Aviation, Inc., Moog AG, Moog Australia Pty. Ltd., Moog do Brasil Controles Ltda. and Moog Controls Corporation. In December 2011, the Company acquired Brafrod Engineering BV, a European developer and manufacturer of satellite equipment including satellite attitude and orbit control subsystems, propulsion and thermal subsystems and components. In July 2012, it acquired American Pacific Corporation’s In-Space Propulsion business.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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