2 June 2013 Last updated at 19:27 ET <\/p>\n
Engineering group MB Aerospace has bought a US-based aero engine component maker in a multi-million dollar deal. <\/p>\n
The Motherwell-based firm confirmed it had acquired Delta Industries but did not disclose how much it paid. <\/p>\n
Delta, which is based in Connecticut, reported annual sales last year of more than $60m (39.5m). <\/p>\n
The deal will boost MB Aerospace's projected annual revenue to more than 100m and raise staff numbers from 370 to 550. <\/p>\n
The firm's US staff count now stands at more than 400, with the rest spread across three UK sites. <\/p>\n
The deal comes only a few months after US private equity firm Arlington Capital Partners bought a majority stake in MB Aerospace. <\/p>\n
The company, which specialises in machined and fabricated components for global aerospace and defence manufacturers, announced at the time it would embark on a series of acquisitions as part of an expansion drive. <\/p>\n
MB Aerospace chief executive Craig Gallagher said establishing a new base in the aerospace community of Connecticut was a strategic step for the group as it broadened its customer reach and skills base. <\/p>\n
He added: \"With its wide range of capabilities, long-standing customer relationships and its strong management team, the Delta business has been a long-term target for MB Aerospace. It is a perfect fit with our ambitions for future growth. <\/p>\n
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Aerospace firm in US expansion move<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 2 June 2013 Last updated at 19:27 ET Engineering group MB Aerospace has bought a US-based aero engine component maker in a multi-million dollar deal. The Motherwell-based firm confirmed it had acquired Delta Industries but did not disclose how much it paid. Delta, which is based in Connecticut, reported annual sales last year of more than $60m (39.5m). Continue reading