Bangalore-based Rs 356 crore engineering firm, Dynamatic Technologies Limited, has acquired a UK-based aeronautic company manufacturing highly engineered components and toolings for $16 million. The company has been in the business for the last 35 years and specialises in complex 5-Axis machining.
Dynamatic manufactures a wide range of products that include engine and transmission components, hydraulic pumps, valves, lift assemblies among others.
With this acquisition, Dynamatic will get a direct relationship with major western aerospace companies and 100 per cent ownership of a 5-axis aeronautic machine shops in the western hemisphere. The company also expects to broaden its aerospace capabilities at a time when Indian defence and civilian aerospace requirements are taking off and add an experienced management team.
According to a press release issued to stock exchanges, the customers of the UK firm include Airbus, Boeing, GKN Aerospace, Magellan Aerospace, GE Aviation Systems, Lockheed Martin and Augusta Westland. The company is strategically-located very close to production sites of its customers at Bristol, UK.
The main advantage for the company from this acquisition will be an access to cutting edge technology in aerospace toolings, fixtures and programming among others.