CLEVELAND, Aug. 19, 2015 /PRNewswire/ -- TransDigm
Group Incorporated (NYSE: TDG) announced today that it has
completed the acquisition of PneuDraulics, Inc. ("PneuDraulics" or
"the Company") for approximately $325
million in cash. The purchase price includes approximately
$107 million of tax benefits to be
realized by TransDigm over a 15 year period beginning in 2015. The
acquisition was previously announced on July
28, 2015.
Located in Rancho Cucamonga,
California, PneuDraulics employs approximately 275 people.
The Company manufactures proprietary, highly engineered aerospace
pneumatic and hydraulic components and sub-systems for commercial
transport, regional, business jet and military applications. Nearly
100% of the revenues are proprietary. Aftermarket content accounts
for approximately 35% of the revenues, while commercial aerospace
content accounts for approximately 85% of the revenues.
About TransDigm Group
TransDigm Group, through its wholly-owned subsidiaries, is a
leading global designer, producer and supplier of highly engineered
aircraft components for use on nearly all commercial and military
aircraft in service today. Major product offerings, substantially
all of which are ultimately provided to end-users in the aerospace
industry, include mechanical/electro-mechanical actuators and
controls, ignition systems and engine technology, specialized pumps
and valves, power conditioning devices, specialized AC/DC electric
motors and generators, NiCad batteries and chargers, engineered
latching and locking devices, rods and locking devices, engineered
connectors and elastomers, cockpit security components and systems,
specialized cockpit displays, aircraft audio systems, specialized
lavatory components, seatbelts and safety restraints, engineered
interior surfaces and related components, lighting and control
technology, military personnel parachutes and cargo loading,
handling and delivery systems.
Forward-Looking Statements
Statements in this press release that are not historical facts
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.Words such as "believe,"
"may," "will," "should," "expect," "intend," "plan," "predict,"
"anticipate," "estimate," or "continue" and other words and terms
of similar meaning may identify forward-looking statements.
All forward-looking statements involve risks and uncertainties
which could affect TransDigm Group's actual results and could cause
its actual results to differ materially from those expressed or
implied in any forward-looking statements made by, or on behalf of,
TransDigm Group. These risks and uncertainties include but are not
limited to failure to complete or successfully integrate the
acquisition; that the acquired business does not perform in
accordance with our expectations; and other factors. Further
information regarding important factors that could cause actual
results to differ materially from projected results can be found in
TransDigm Group's Annual Report on Form 10-K and other reports that
TransDigm Group or its subsidiaries have filed with the Securities
and Exchange Commission. Except as required by law, TransDigm Group
undertakes no obligation to revise or update the forward-looking
statements contained in this press release.
Contact:
Liza Sabol
Investor Relations
(216) 706-2945
ir@transdigm.com
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SOURCE TransDigm Group Incorporated