Volvo Aero completes acquisition of Aero-Craft
12/22/2004 4:57 AM EST
Volvo Aero’s planned acquisition of the Aero-Craft company has now been completed. As a result, the strategic alliance with Carlton Forge Works can be realized. Consequently, Volvo Aero can now expand its offering of specialized components to include fan cases.
Aero-Craft, located outside Hartford, Connecticut, in northeastern US, has about 35 employees and sales of about USD 5 M.
The company is a supplier to such major aircraft engine manufacturers as Pratt & Whitney and General Electric as well as to other component manufacturers, including MTU and Volvo Aero. Aero-Craft mainly produces components for large industrial gas turbines and aircraft engines.
Aero-Craft’s deliveries include components to Pratt & Whitney’s military engines. Approval of the American authorities was a requirement for the completion of Volvo Aero’s acquisition. This has been received and at the beginning of this week the transaction was completed formally at a ceremony and Volvo Aero took over operations.
Among other services, Aero-Craft will support Volvo Aero in Sweden when required with rough machining.
December 22, 2004
For further information, please contact Fredrik Fryklund, Volvo Aero, +46 520 944 01 or +46 70 3192396