GKN Aerospace to acquire Fokker Technologies

GKN Aerospace has agreed to acquire Fokker Technologies Group from Arle Capital for an enterprise value of €706 million (£499 million) to enhance its position as a leading global supplier to the aerospace industry.Fokker is a specialist Tier 1 supplier to the commercial, military and business jet markets which specialises in the design, development and production of lightweight aero structures, electrical wiring interconnection systems and landing gear. Headquartered in the Netherlands, the company has almost 5,000 employees with operations in Europe, North America and Asia. In the year ended 31 December 2014, Fokker generated revenue of €758 million.GKN is a UK headquartered global engineering group with over 50,000 people working in manufacturing facilities across more than 30 countries. GKN Aerospace, like Fokker, is a global Tier 1 supplier of airframe and engine subassemblies, transparencies and fuel/flotation systems with more than 12,000 employees. Its sales in 2014 totalled £2.2 billion (€3.1 billion).Once the acquisition is completed, Fokker, under the current leadership, will become a new operating unit within GKN Aerospace. Its HQ will remain in the Netherlands as will its R&D and manufacturing facilities. Fokker will also continue its partnerships with the Dutch government and knowledge institutes.Completion of the acquisition is expected to take place in the fourth quarter of 2015 following the conclusion of the information and consultation procedures with the Fokker Works Council and trade unions, ITAR and CFIUS regulatory clearances and anti-trust clearance in the EU and the US.“Fokker is a great business with strong customer relationships and a recognised commitment to the development and application of innovative technology. It is an excellent business that fits well with GKN Aerospace. Strategically, this acquisition strengthens GKN Aerospace’s position as a market leader, enhances its global manufacturing footprint and adds new technology,” remarked Kevin Cummings, GKN Aerospace’s CEO. “It also increases GKN’s shipset value on key growth programmes in both the commercial and military markets. The addition of Fokker further strengthens GKN Aerospace’s ability to meet the demands of our global customers – now and into the future.”Fokker Technologies’ CEO, Hans Büthker, commented, “The combination of GKN Aerospace and Fokker will create a world-leading, innovative multi technology aerospace company with a global footprint. GKN Aerospace and Fokker together have an impressive multi-technology portfolio for our customers. Fokker can benefit greatly from the scale, innovation and financial power of GKN. The innovation and technology driven culture in this larger company will provide broader and new opportunities for our employees who will be participating in some of the world’s largest and most challenging aerospace projects.“GKN was founded more than 250 years ago while Fokker has been at the forefront of aerospace technology for more than 100 years. Both companies understand the value of long term investment and the importance of operational excellence. The combination will help to meet the challenges of a more competitive and increasingly global aerospace market,” added Büthker.

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