18 May 2009

Singapore Technologies Aerospace has acquired all the shares of Precision Products Singapore (PPS) from Nippon Precision Casting Corporation, Renaissance Capital Management Limited and Singapore Technologies Industrial Corporation respectively. The acquisition was for a cash consideration of S$7.65 million. With this purchase, PPS becomes a wholly-owned subsidiary of ST Aerospace. This acquisition is not expected to […]

MTU Aero Engines will pull out of its production activities in the U.S.: the manufacturing unit of MTU Aero Engines North America (AENA) was sold to U.S.-based EDAC Technologies. The contract was signed late last week. The transaction will not affect MTU’s revenue and profit forecast for the year, nor will it have an impact

Ronson Corporation has entered into an agreement to sell substantially all of the assets of its wholly-owned subsidiary, Ronson Aviation, Inc. Ronson Aviation is a fixed-base operator at Trenton-Mercer Airport, providing aircraft fueling and servicing, avionics sales, aircraft repair and maintenance, hangar and office leasing and related services. The purchaser is Hawthorne TTN Holdings, Inc.,

Avcorp announced its financial results for the quarter ended March 31, 2009. During the quarter ended March 31, 2009, the Company recorded a loss from operations of $1,989,000 on $22,087,000 revenue, as compared to $183,000 earnings from operations on $31,151,000 revenue for the same quarter of the preceding year; and a net loss for the