16 December 2011
Moog Inc. has acquired Bradford Engineering B.V. The purchase price is approximately €10 million in cash. Bradford, founded in 1983, is a European developer and manufacturer of satellite equipment including satellite attitude and orbit control subsystems, propulsion and thermal subsystems and components.
"Bradford Engineering complements our existing European spacecraft components business. We believe there is a strong demand for their products in the U.S. and we will now have an established manufacturing base for space components in Europe," said Jay Hennig, President of Moog’s Space and Defense Group.
Sales for Bradford are expected to be approximately €8 million for the balance of Moog’s 2012 fiscal year. This acquisition is expected to be neutral to Moog’s earnings per share for the year ending September 29, 2012 after consideration of first year purchase accounting adjustments.
