Hi-Shear Technology Corporation Signs Merger Agreement

Hi-Shear Technology Corporation (NYSE Amex: HSR) today announced that it has entered into a definitive merger agreement with Chemring Group PLC (LSE: CHR.L), whereby Chemring will acquire Hi-Shear in an all cash transaction valued at approximately $132.0 million.

The board of directors of Hi-Shear approved the transaction with Chemring, based, in part, upon the recommendation of a special committee of the board that was established to consider strategic alternatives. Under the terms of the merger agreement, upon consummation of the transaction, Hi-Shear stockholders will receive an amount in cash equal to $19.18 per share of Hi-Shear’s outstanding common stock, which represents a premium of 61.4% over Hi-Shear’s closing stock price on September 15, 2009. The transaction is subject to customary closing conditions, including approval of the transaction by Hi-Shear’s stockholders and the expiration or termination of applicable waiting periods under the Hart-Scott Rodino Antitrust Improvement Act of 1976, and is expected to be completed in the fourth quarter of 2009.

Published: 16 September 2009
Written by Editor
AMEX   Industrial   M & A   Up on News  
Read more: Hi-Shear Technology Corporation ( HSR )

Aerosonic Chosen as Key Supplier to AleniaSIA for the AleniaAermacchi M-346 Trainer Aircraft

Aerosonic Corporation (NYSE Amex: AIM), a leading supplier of precision flight instruments and systems for commercial, business and military aircraft, announced today that it has signed a Long Term Supply Agreement (“LTSA”) and received an initial production order from AleniaSIA to supply its Integrated Multi-Function Probe (“IMFP”) and related equipment for the production of AleniaAermacchi M-346 aircraft FBW Flight Control System. The deliveries to AleniaSIA will begin in March of 2010. Based on current forecasts, Aerosonic expects this program to generate up to $10 million in revenue over the next 4 years

The IMFP provides angle of attack, and air data to the aircraft in one probe, reducing flight control system complexity, weight and cost on military and commercial aircraft. It is currently installed on the latest model of Lockheed F16 Block 60 fighter aircraft.

Published: 16 June 2009
Written by Editor
AMEX   Industrial   New Product or Order   Up on News  
Read more: Aerosonic Corporation ( AIM )

Lufthansa Group Signs Purchase Agreement with Bombardier for up to 60 CSeries Aircraft

- Bombardier announces new model names for game-changing aircraft

Bombardier Aerospace announced today that Deutsche Lufthansa AG, the launch customer for the CSeries aircraft program, has signed a firm purchase agreement for 30 CSeries model CS100 (formerly C110) single-aisle aircraft. These aircraft will be operated by Lufthansa's subsidiary Swiss International Air Lines Ltd. The agreement also includes options on an additional 30 CSeries aircraft.

Based on list price, the contract value for the 30 CS100 aircraft is approximately $1.53 billion US.

Published: 11 March 2009
Written by Editor
TSX   Industrial   New Product or Order   Up on News  
Read more: Bombardier Inc ( BBD.A )

B/E Aerospace Full Year 2008 and Q4 Financial Results

Company Records Non-Cash Goodwill Impairment Charge; 2008 Record Sales up 26%; 2008 Record Operating Earnings up 43%; Q4 Sales up 14%; Q4 Adjusted EPS $0.53; All Exclusive of Goodwill Impairment Charge; Q4 Free Cash Flow $58 Million

B/E Aerospace, Inc. (Nasdaq:BEAV), the world’s leading manufacturer of aircraft cabin interior products and the world’s leading distributor of aerospace fasteners and consumables, today announced fourth quarter and full year 2008 financial results.
Published: 02 February 2009
Written by Editor
Nasdaq   Industrial   Financial Results   Up on News  
Read more: B/E Aerospace Inc ( BEAV )

CAE wins contracts for five full-flight simulators and training devices valued at approximately C$60 million

CAE (NYSE:CGT)(TSX:CAE) has won contracts to design and manufacture five full-flight simulators (FFSs) and associated training devices valued at approximately C$60 million at list prices. The contracts are with Continental Airlines, Air China, and Shandong Airlines, and now bring the total FFS sales announced so far in fiscal year 2009 to 31.

"We are pleased airlines around the world continue to trust CAE's true fidelity simulation equipment to support their pilot training programs," said Marc Parent, CAE's Executive Vice President and Chief Operating Officer. "We have the industry's most comprehensive portfolio of simulation products and training services, and remain confident that we can offer cost-effective solutions to address the specific training needs of our customers."

Published: 13 January 2009
Written by Editor
TSX   NYSE   Industrial   New Product or Order   Up on News  
Read more: CAE ( CAE / CGT )
  1. Mecachrome International Inc ( MCH )
  2. CAE Inc ( CAE / CGT )
  3. CAE ( CAE / CTG )
  4. Alabama Aircraft Industries Inc ( AAII )
  5. Alabama Aircraft Industries Inc ( AAII )