GKN Aerospace is to acquire the Dutch aerospace firm Fokker Technologies in deal worth more than €700 million ($775 million).
Fokker Technologies specialises in supplying aerostructures, wiring connection systems and landing-gear. It also acts as a maintenance and modification provider.
GKN describes the €706 million acquisition from Arle Capital as “compelling”, adding that it will combine two companies with “broad product portfolios” and “established positions” on key aircraft programmes.
“This acquisition strengthens GKN Aerospace’s position as a market leader, enhances its global manufacturing footprint and adds new technology,” says GKN Aerospace chief Kevin Cummings.
Fokker, which employs 5,000 personnel, will continue to be based in the Netherlands. Chief executive Hans Buthker says the company will “benefit greatly” from GKN’s scale and “financial power”.