CIRCOR International, Inc. (NYSE: CIR), a leading provider of valves and other highly engineered products for the instrumentation, aerospace, thermal fluid and energy markets, today announced that its Aerospace Products Group has completed the acquisition of Chemille, France-based Bodet Aero from Groupe BMP. Bodet Aero is a leading manufacturer of electro-mechanical and fluidic controls for the aerospace, defense and transportation markets. It has approximately $15 million in revenues and the transaction is expected to be accretive to earnings in the first year of combined operations.
“We are excited to be adding the capabilities of Bodet Aero to CIRCOR’s presence in Europe, along with our Paris-based Industria Controls operation,” said CIRCOR Chairman and Chief Executive Officer Bill Higgins. “Expanding CIRCOR’s technology and customer links in Europe is key to our growth strategy. Bodet Aero has engineering and manufacturing capabilities and a reputation for service excellence that make it a great fit for our aerospace business in France and throughout Europe.”
Bodet Aero has more than 20 years of experience in the design and manufacture of specialized aircraft controls system components, including aircraft landing gear wheel speed tachometers, flight control pedal transmitters, speed reducers and integrated fluidic and electro-mechanical controls components. Bodet Aero products are found on a full range of aerospace platforms, including the Airbus family of commercial and military aircraft, as well as business aviation platforms including the Dassault Falcon 7X.
CIRCOR Aerospace is a global leader in the design, manufacture and testing of high reliability, severe service fluid controls, control systems, and integrated landing gear systems. The business operates design and manufacturing centers in North America, Europe and Asia, producing aerospace products under the Circle Seal, Aerodyne, Industria, Motor Technology and Loud brand names.
About CIRCOR International. Inc.
CIRCOR International, Inc. is a leading provider of valves and other highly engineered products that allow customers around the world to use fluids safely and efficiently in the instrumentation, fluid regulation, aerospace and energy markets. More information is available at www.circor.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of CIRCOR. These statements include, but are not limited to, the Company’s expectations related to the integration and performance of the Bodet Aero acquisition. Actual events, performance or results could differ materially from the anticipated events, performance or results expressed or implied by such forward-looking statements. BEFORE MAKING ANY INVESTMENT DECISIONS REGARDING OUR COMPANY, WE STRONGLY ADVISE YOU TO READ THE SECTION ENTITLED "RISK FACTORS" IN OUR MOST RECENT ANNUAL REPORT ON FORM 10-K, WHICH CAN BE ACCESSED UNDER THE "INVESTORS" LINK OF OUR WEBSITE AT WWW.CIRCOR.COM. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Frederic M. Burditt, 781-270-1200
Chief Financial Officer