British engineering firm takes over Dutch plane maker Fokker
British engineering company GKN is taking over Dutch plane maker Fokker Technologies from Arle Capital for €706m.
Once the acquisition is completed, Fokker will become a new operating unit within GKN Aerospace. Fokker’s headquarters will remain in the Netherlands, as will its R&D and manufacturing facilities, the companies said in a statement.
Fokker specialises in the commercial, military and business jet markets and has a workforce of almost 5,000. The company booked sales of €758m last year.
GKN operates in 30 countries around the world, has a workforce of 12,000 and turned over €3.1bn in 2014.
‘GKN was founded more than 250 years ago while Fokker has been at the forefront of aerospace technology for more than 100 years,’ Fokker chief executive Hans Büthker said. ‘The combination will help to meet the challenges of a more competitive and increasingly global aerospace market.’
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