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Invesco to Invest $10M in Magnaghi Aeronautica
"When I bought Magnaghi Aeronautica there were criticisms
from different directions, wrongly assuming this was a mere financial
investment aiming at taking advantage of the particular situation
the company was suffering at the time," says Invesco Group
CEO Paolo Graziano. "Instead, I wanted to prove that industrial
investments are still possible in spite of the current crisis,
and in an area (Naples, Italy) where it is much easier to disinvest."
The acquisition in December 2001 of Magnaghi Aeronautica, once
a leading manufacture of landing gears, was the last of three
made by Invesco Group, following that in 1989 of Metal Sud, a
company manufacturing, assembling and maintaining rigid pipeline
and performing surface treatments on aircraft components, and
in 1999 of Salver, a former CIBA/Excel company involved in design
and manufacture of advanced composites aerostructures.
"To prove my commitment," Graziano told Show News,
"we are investing $10 million to upgrade Magnaghi's facility
and will relaunch the company by exploiting its enormous technological
capabilities, thus meeting the needs of our expansion plans both
at home and internationally."
All three companies are approved by some of the leaders in aerospace
such as Airbus, Alenia, Agusta, ATR, Boeing, Messier-Dowty, and
MBDA, and hold JAR-21, JAR-145, AQAP-110, AQAP-120 and ISO 9001
and 9002 approvals.
Along with its traditional products, her at Le Bourget, Magnaghi
Aeronautica is showing a new deck-lock system for the naval version
of the NH Industries NH 90 helicopter, designed and developed
in cooperation with Messier-Bugatti.
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