GLASGOW, Scotland, October 27, 2017 /PRNewswire/ --
Move Into Asia Takes Global Headcount Above 1,700
International aerospace group MB Aerospace has today (27 October 2017) announced it has entered into an agreement to acquire Taiwan-based Asian Compressor Technology Services Company Limited (ACTS). The business will trade as MB Aerospace ACTS (Taiwan) once legal completion has been finalised, likely to be in January 2018.
ACTS was founded in 1995 as a joint venture by Pratt & Whitney, China Airlines and Singapore Airlines Engineering Company to provide in-house repair of aero-engine components within the turbine and compressor sections of gas turbine aero-engines.
ACTS, which employs over 100 specialist and technical staff, is a leading global provider of aero-engine component repair services to Pratt & Whitney's overhaul network, giving MB Aerospace a highly-performing footprint in the rapidly-growing Asian market and taking overall employee numbers above 1,700 across the United States, Europe and Asia.
From a well-invested site close to the logistics hub of Taipei Taoyuan International Airport, ACTS is now a global player in the repair of performance-critical compressor and turbine components. Since it was founded over two decades ago, ACTS has developed a market-leading reputation for service and customer performance, whilst developing strengths in key technologies including brazing and vacuum brazing, thermal spray coating, laser holography, water jetting, auto-welding and rubber/epoxy solutions.
Craig Gallagher, MB Aerospace Chief Executive Officer, said: "This acquisition greatly expands our capabilities in the repair sector and gives us a crucial geographical presence in the fast-growing Asian market.
"ACTS already serves a diverse customer base globally and its truly world-class servicing capabilities on performance-critical rotating components will now operate in synergy with our high-volume compressor and turbine component manufacturing facility at MB Aerospace Newton Abbot in the UK. Expanding our capabilities in the turbine and compressor sections of the aero-engine is a key strategic objective for MB Aerospace and we have ambitious plans for further growth and investment in both Taiwan and Newton Abbot.
"This is a hugely exciting and positive deal for everyone involved. Taiwan is a global centre for manufacturing innovation and the Taiwan government's stated aim of supporting aerospace manufacturing is also a very attractive factor for us as we look to expand operations there.
"ACTS provides a tremendous platform for further growth in Asia - we are buying a high-performing company that has been operating at UTC Supplier Gold status for over 70 consecutive months. This established, world-class performance standard will give MB Aerospace a solid footing to serve global aero-engine customers that demand high quality, performance-critical repairs with fast turnaround times and cost-competitive repairs on critical rotating components in the hot section of the engine.
"We are also joining forces with a world-class senior management team at ACTS who will help deliver our growth ambitions during an exciting time for the industry. The global aircraft fleet is projected to double in the next 20 years and much of this demand will come from growth in Asian air traffic.
"In addition it also significantly deepens our already strong relationship in servicing the global Pratt & Whitney overhaul network."
Notes to editors
About MB Aerospace - MB Aerospace, majority owned by The Blackstone Group, is a leading supplier of precision aero-engine components directly serving major aero-engine OEMs and Tier 1 suppliers. MB Aerospace's focus on complex performance critical components leverages a depth of technical and engineering understanding across the full range of materials, manufacturing processes and customer approvals to be a truly trusted and scaled partner to the main aero-engine OEMs. MB Aerospace has developed a highly attractive global operating footprint, with more than 1,700 employees across eight locations (including three FAA approved Repair Stations) in the U.S., Europe and Asia with proximity to all key OEMs, overhaul networks and Tier 1 customers.
SOURCE MB Aerospace