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| Photo Etch light plate. Photo: Photo Etch |
[Avionics Today 03-21-2016] Firan Technology Group’s U.S. subsidiary, FTG Aerospace, has acquired substantially all of the assets of Airco Industries, or PhotoEtch, a Texas-based designer and manufacturer of cockpit products, electronic assemblies and simulator solutions. The transaction was effected pursuant to an asset purchase agreement entered into between FTG Aerospace, PhotoEtch and PhotoEtch’s parent company.
Under the terms of the acquisition, FTG Aerospace has acquired modern and advanced processing equipment, product designs, process know-how, PhotoEtch’s customer contracts as well as the working capital of PhotoEtch. The purchase of PhotoEtch’s assets has significant strategic benefit to FTG and the company expects that the acquisition will accelerate its penetration of a significant number of commercial aerospace, defense and simulator customers, primarily in the United States.