LUCAS AEROSPACE DIVESTS FABRICATION BUSINESS
Solihull, England - Lucas Aerospace, a TRW company, today announced that it has sold its Burnley, U.K.-based fabrication business to MB Aerospace Ltd. of the U.K., a subsidiary of Motherwell Bridge Holdings Limited. The amount of the sale is undisclosed.
Nick Sanders, Director of Manufacturing and Supply Operations at Lucas Aerospace commented, "The sale of the Burnley facility is part of our stated strategy to focus on our core competencies and strengthen our position as a global leader in the provision and support of high integrity systems and equipment for the aerospace industry. The aerospace market continues to evolve toward more demanding, technically sophisticated solutions. It is shifting toward bigger and fewer programmes. Divesting this non-core operation allows Lucas Aerospace to concentrate on winning entire systems that secure long-term revenues and the future of the business so that we can leverage our strong technical base with high-added-value solutions."
The acquisition supports MB Aerospace's strategy to increase its aerospace market in its core business of component machining. The Lucas Aerospace Burnley plant provides MB Aerospace with the increased capacity needed to achieve this growth along with a highly skilled and experienced work force in a geographical area that positions the company closer to existing and potential customers.
The Burnley facility currently employs approximately 95 people of which the majority will be retained by MB Aerospace at the Burnley facility.
Lucas Aerospace, a TRW company, provides the global aerospace industry with high integrity systems and equipment in engine controls, flight controls, missile systems, electrical power generation and management, cargo handling, and hoists and winches, all backed by a world-wide customer support organisation.
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