Stork Aerospace acquires AIRINC (USA)
13 July 2006, Fokker Services, a company of the Netherlands based Stork Aerospace, and the US-based AeroMark Group today signed an agreement for the acquisition by Stork of 100% of the shares in AIRINC (Fairhope, Alabama USA). AIRINC provides component repair and overhaul services to aircraft operators worldwide. Sales in 2006 are expected to be approximately US$ 10 million. The acquisition provides Fokker Services a platform for further growth. The parties did not reveal the financial details of the transaction.
AIRINC specializes in hydraulic, pneumatic and avionic components installed on a wide variety of aircraft, including Airbus and Boeing aircraft. The acquisition of AIRINC represents a first step in the implementation of Fokker Services’ strategy of strengthening its position as a total logistic support provider to aircraft operators worldwide. With the acquisition of AIRINC, Fokker Services expands its presence in North America significantly by establishing its first component repair facility in the North American market. This market is expected to grow significantly in the coming years. Fokker Services has extensive experience in offering total support solutions through performance-based contracts for the availability of aircraft components. Other locations of Fokker Services include The Netherlands, Singapore and Atlanta, Georgia USA.
Stork Aerospace develops and produces advanced components and systems for the aviation and aerospace industry, and supplies integrated services and products to aircraft owners and operators. The group achieved a turnover of € 551 million in 2005 with 3,385 employees out of the total Stork turnover of €1.82 billion.
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