Posted on: 24 December 2014 by Ross McSweeny
Subject to closing agreements, Astronics Corporation (Astronics) plans to have completed the acquisition of Armstrong Aerospace by the end of January, 2015.
“I am pleased to include Armstrong in the expanding range of capabilities that Astronics has to offer, specifically in the connectivity and power niche for commercial airlines,” commented Peter Gundermann, CEO of Astronics. “Armstrong has a strong entrepreneurial spirit, advanced engineering proficiency and significant experience in providing certifications for OEMs, integrators and airlines. And, like us, they have a solid history of strong growth.”
Astronics has announced it will acquire Armstrong Aerospace for $51 million. As a result of the acquisition, Astronics now expects 2015 revenue will be between $680 million to $725 million.