Canadian aerospace firm moves into Europe

Posted on 29 Oct 2017 and read 365 times
Canadian aerospace firm moves into EuropeQuebec-based Héroux-Devtek Inc (HDI) (www.herouxdevtek.com) has announced a major move into Europe.

The company, which makes landing gear as well as several other aircraft systems, has agreed to buy Spanish competitor Compañia Española de Sistemas Aeronauticos for around £156 million.

The latter is currently a member of Airbus Defense and Space SA.

Gilles Labbé, president and CEO of HDI, called the deal a “pivotal moment” in the company’s international expansion.

He said in a statement: “With this transaction, we are significantly increasing our presence in Europe, expanding our product and service offering into complementary activities, adding a significant intellectual property rights portfolio, and gaining important content on several key aircraft programmes.”

Headquartered in Madrid, CESA makes landing gear, actuation and hydraulic systems at two Spanish manufacturing plants—one in the capital and another in Seville.

The company currently employs about 340 people. The acquisition remains subject to certain conditions, including the approval of the Spanish cabinet.

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