3/13/2012 11:31:00 AM
HEADLINES
B/E Aerospace Opens Engineering Facility Abroad
B/E Aerospace announced the opening of its Engineering Services Division in Hyderabad, India.
The facility was inaugurated by Paul Mueller, head of business and economic matters for the U.S. Consulate.
The news prompted the Hindu to boost its assessment of the city’s potential to emerge as an aerospace hub.
“The presence of the large defense sector, civil aviation, airport infrastructure, training facilities and industry has positioned Hyderabad as an attractive destination for the aerospace sector,” the Hindu reported.
For 2011 B/E Aerospace reported Consumables Management (CMS) revenue, including fasteners, rose 22.1% to $943.5 million, with segment operating earnings climbing 19.5% to $183.1 million during the year.
Those results included a 16.7% increase in Consumables revenue to $234.1 during the final quarter of 2011. Q4 segment operating earnings gained 13% to $42.6 million.
Despite record results, CEO Amin Khoury pointed to the “margin drag from the consumables management segment acquisitions which we have now begun to integrate.”
In recent months the company’s Consumables segment has made several acquisitions, including the $400 million deal to purchase UFC Aerospace Corp. that was completed on January 30, 2012. ©2012 GlobalFastenerNews.com
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