B/E Aerospace Fastener Revenue Rises on HCS Acquisition
B/E Aerospace Fastener Revenue Rises on HCS Acquisition
Jason Sandefur
B/E Aerospace reported distribution segment revenues, including fasteners, increased 134% to $219.2 million, “reflecting the acquisition of the HCS (aerospace fastener distribution) business and solid organic growth.” Distribution operating earnings jumped 96% $42.1 million.
During Q3 the company completed its acquisition of Honeywell Consumable Solutions for $1.05 billion, which CEO Amin Khoury claimed “substantially improved” his company’s outlook. As part of the deal, B/E Aeropspace signed a 30-year contract to become Honeywell’s exclusive licensee to sell fasteners, seals and other products to the global aerospace industry, as well as supplying Honeywell’s production facilities.
Nine-month distribution sales increased 62% to $464.8 million, while operating earnings soared 73% to $109 million. Operating margin expanded by 150 basis points to 23.5%, reflecting the synergies from the integration of New York Fasteners into its business. B/E Aerospace acquired NYF for $66.9 million during 2006. Web: beaerospace.com �2008 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment