LORD Corporation has acquired Fly-by-Wire Systems from SKF Group
LORD Corporation has acquired Fly-by-Wire Systems, a subsidiary of SKF Group, for US$44 million.
LORD Corporation is a diversified technology and manufacturing company developing highly reliable adhesives, coatings, motion management devices and sensing technologies that significantly reduce risk and improve product performance. For more than 90 years, LORD has worked in collaboration with its customers to provide innovative oil and gas, aerospace, defense, automotive and industrial solutions. With world headquarters in Cary, N.C., USA, and revenues in excess of US$800 million, LORD has approximately 3,000 employees in 26 countries and operates 17 manufacturing facilities and nine R&D centers worldwide.
Based in Saint-Vallier, France, Fly-by-Wire Systems (FbW) designs and manufactures cockpit controls, sensors, dampers and electromechanical actuators primarily for fly-by-wire systems on commercial fixed-wing aircraft. FbW was a pioneer in this field as it collaborated with Airbus for its first introduction of fly-by-wire technology on the A320 commercial jetliner.
SKF Group is a leading global supplier of bearings, seals, mechatronics, lubrication systems and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has some 17,000 distributor locations worldwide.
This acquisition will position both entities for further expansion into new markets and regions, and provide LORD with a major aerospace engineering and manufacturing presence in Europe. LORD customers will now have access to a broader offering around the world of best-in-class dynamic components and electromechanical systems. FbW customers will see renewed focus on innovation and development of FbW’s product portfolio as well as its manufacturing and supply chain management capability.
Oaklins' team in Switzerland advised LORD Corporation on its expansion plans in Europe.
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