EAST AURORA, NY -- Moog Inc. announces that it has completed the acquisition of Fernau Avionics Ltd., a U.K.-based company, for approximately
Ground based air navigation systems transmit signals that are used to calculate bearing and range information to aid pilot navigation. These systems are part of a larger classification often referred to as "navigation aids."
"This acquisition complements our present navigation aids business in the U.S.," says Warren Johnson, President of Moog's Aircraft Group. "Fernau, with a robust portfolio of products and services, significantly expands our capabilities in this market and extends our customer base throughout Europe and Asia."
Fernau is expected to add 11.7 million pounds to Moog's sales for the remaining seven months of the 2009 fiscal year. As a result of first year purchase accounting adjustments the acquisition will be neutral to previously forecasted fiscal year 2009 earnings per share. The acquisition will be reported as part of the Aircraft Controls segment.
Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. For more information visit www.moog.com.
