GKN Aerospace is to acquire the Dutch aerospace firm Fokker Technologies in deal worth more than â‚¬700 million ($775 million).
Fokker Technologies specialises in supplying aerostructures, wiring connection systems and landing-gear. It also acts as a maintenance and modification provider.
GKN describes the â‚¬706 million acquisition from Arle Capital as â€œcompellingâ€, adding that it will combine two companies with â€œbroad product portfoliosâ€ and â€œestablished positionsâ€ on key aircraft programmes.
â€œThis acquisition strengthens GKN Aerospaceâ€™s position as a market leader, enhances its global manufacturing footprint and adds new technology,â€ says GKN Aerospace chief Kevin Cummings.
Fokker, which employs 5,000 personnel, will continue to be based in the Netherlands. Chief executive Hans Buthker says the company will â€œbenefit greatlyâ€ from GKNâ€™s scale and â€œfinancial powerâ€.