M&As this week: Rostec, Firstmark, PGZ

28 September 2018 (Last Updated September 28th, 2018 14:40)

Russia’s state-owned holding company Rostec has agreed to sell a 60% stake in JSC NPO Molniya, a scientific and production enterprise, to Kalashnikov Corporation.

Russia’s state-owned holding company Rostec has agreed to sell a 60% stake in JSC NPO Molniya, a scientific and production enterprise, to Kalashnikov Corporation.

Kalashnikov Corporation is a defence manufacturing company engaged in the production of precision weapons, assault and sniper rifles, and guided artillery projectiles.

Firstmark Corp, a manufacturer of components and sub-assemblies for aerospace and defence applications, has been acquired by British aviation services provider BBA Aviation for $97m.

Based in the US, Firstmark will now operate under Ontic, a part of BBA Aviation group of companies.

The deal enhances Ontic’s growth by expanding its portfolio of proprietary products in the commercial and military aerospace markets.

“General Electric Company has signed an agreement to sell its 100% stake in MRA Systems to Vision Technologies Aerospace Inc for $630m.”

Pratt & Whitney has signed a letter of intent with Poland’s state-owned defence industry company PGZ SA to establish Pratt & Whitney Rzeszów SA.

The deal will support the production of spare parts and servicing for the Polish Armed Forces’ aircraft.

General Electric Company has signed an agreement to sell its 100% stake in MRA Systems, LLC (MRAS) to Vision Technologies Aerospace Inc (VT Aerospace) for $630m.

MRAS manufactures engine nacelle components, thrust reversers and aerostructures for military and civil aircraft.

VT Aerospace provides aviation maintenance, repair and overhaul services to commercial and military aircraft.

The transaction will help enhance Vision Technologies’ global footprint.