The French company Groupe Zodiac has negotiated an agreement in principle to acquire all of the assets of Huntington Beach, CA-based C&D Aerospace Group for $600 million.
The activities of C&D Aerospace and Zodiac are complementary, and both companies have co-operated for many years on numerous aircraft programs.
C&D Aerospace designs and manufactures overhead bins side panels, passenger service units, cabin lighting, emergency lighting, ceiling panels, and seats for all major civil aircraft manufacturers and for the major airlines. It had revenues of around $400 million in 2004 and projects that 2005 revenues will be substantially higher.
Zodiac’s Airline Equipment business, on the other hand, manufactures passenger seats and water and waste management systems. It has yearly sales of $550 million.
The completion of the deal is subject to regulatory approvals and other customary closing conditions.