B/E Aerospace to buy Interturbine for $251 million
(Reuters) - B/E Aerospace Inc (BEAV.O), the world's biggest maker of aircraft interiors, will buy Germany's Interturbine group of companies for about 200 million euros ($251 million), adding to its business that supplies consumables to airlines.
Privately owned Interturbine supplies chemicals, lubricants and hydraulic fluids and interior products such as fasteners, cables and wires and electronic components to global airlines, and maintenance, repair and overhaul providers.
"The acquisition doubles our consumables product portfolio, and ... positions us to offer a comprehensive range of products and services on a single-source basis to our customers globally," Chief Executive Amin Khoury said in a statement.
The Interturbine deal follows B/E Aerospace's acquisition of aerospace supply chain manager UFC Aerospace Corp for about $400 million in January.
B/E Aerospace said it expects the deal to be about neutral for 2012 and 2013 earnings, and "solidly accretive" in 2014.
The deal is expected to close in the fourth quarter of 2012. Steen Associates acted as Interturbine's financial adviser.
Shares of B/E Aerospace, which has a market capitalization of about $4.4 billion, closed at $42.35 on Friday on the Nasdaq.
(Reporting by Balaji Sridharan and Bijoy Koyitty in Bangalore; Editing by Mark Potter and Ted Kerr)
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