LONDON, UK: Meggitt Plc, a quantity one worldwide engineering firm specialising in excessive efficiency components and sub-systems for the aerospace, defence and chosen energy markets, introduced the disposal of Meggitt A/S to CTS Ceramics Denmark A/S for money consideration of £59 million (DKK525million) topic to net debt and dealing capital adjustments.
Meggitt A/S is a producer of excessive efficiency piezoelectric ceramic components for medical and industrial applications. The disposal is constant with Meggitt’s technique of developing sustainable and differentiated applied sciences for its core finish markets in aerospace, defence and energy and follows a variety of disposals over the final 4 years.
Meggitt A/S had gross assets of £23m (including goodwill and different intangible assets arising on the unique acquisition of the business) as at 31 December 2021 and revenue earlier than tax of £2.9m within the 2021 monetary year.
Completion is topic to receipt of requisite regulatory approvals and the satisfaction of different customary closing conditions. The money proceeds to be paid on completion will be used to pay down debt and for general firm purposes.
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