Teleflex Inc. announced Wednesday the sale of Teleflex Aerospace Manufacturing Group (TAMG), a precision-machined components business that is part of its Aerospace Segment, to GKN plc, a supplier of technology-based, highly engineered products to aircraft and aero engine manufacturers.
Terms of the transaction were not disclosed and the sale is expected to be finalized in the second quarter of 2007.
TAMG, which had annual revenues of over $130 million in 2006, has more than 600 employees in seven manufacturing facilities in the U.S., England, France and Mexico.
According to GKN, the combination of the company's existing Engine Products business and TAMG will help them to become a leading manufacturer of fixed and rotating engine components with a range of products including engine and fan cases, blades, blisks, vanes and cowls.
GKN Aerospace, based in Worcestershire, U.K., has over 6800 employees and 24 centers in Europe and North America.
Teleflex Inc., headquartered in Limerick, Penn., had annual revenues over $2.6 million in 2006 and employs more than 19,000 people globally. The company manufactures engineered products for the commercial, medical and aerospace industries.