BE Aerospace Buys Satair Unit

WELLINGTON, Fla. (AP) -- BE Aerospace Inc. said Monday it will pay $162 million to buy Satair AS's aerospace fastener distribution business.

Satair's fastener business distributes products to European and Asia Pacific aerospace manufacturers and their suppliers. The deal will expand BE Aerospace's product offerings in its consumables business. Those products will now include expanded metric fasteners, adhesive fasteners, latches, cables, struts, tooling and lighting products.

Satair, based in Denmark, said the business contributed revenue of $104 million in the latest fiscal year.

The deal is expected to close in the fourth quarter and it will be neutral to BE Aerospace's 2011 net income but add to results after that, the company said.

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