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B/E Aerospace to Acquire Aerospace Logistics Expert Interturbine
By Jim Douglas

June 29, 2012 - B/E Aerospace, manufacturer of aircraft cabin interior products, announced that it has signed a definitive agreement to acquire Interturbine Aviation Logistics GmbH, Interturbine Logistics Solutions GmbH, and Interturbine Technologies GmbH (collectively Interturbine), a leading provider of material management logistical services to global airlines and maintenance, repair and overhaul (MRO) providers. 

Interturbine is a “One Stop Source,” reducing aircraft downtime for airlines and MRO’s. Over 60 percent of Interturbine’s business is generated on an urgent Aircraft-on-Ground (AOG) basis, requiring response within 4 to 24 hours. 

Interturbine provides more than 500,000 part numbers from approximately 3,000 suppliers for its customers. Interturbine’s product range includes chemicals, lubricants, hydraulic fluids, adhesives, coatings, and composites. Interturbine also supplies fasteners, cables and wires, electronic components, electrical and electromechanical materials, tools, hot bonding equipment and ground equipment to its primary customer base of airlines and MRO providers globally. 

“The acquisition of Interturbine doubles our consumables product portfolio, and more importantly, positions our Company to offer a comprehensive range of products and services on a single-source basis to our customers globally. This acquisition supports our commitment to provide the best and broadest portfolio of aerospace consumables and logistics services to our customers,” said Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace. 

“Our future revenue growth will be fueled by key positions on critical customer platforms, our ability to respond to customer demand for same day service, and our ability to respond to aerospace customer trends toward outsourcing more and more key elements of the supply chain through enhanced product offerability and complex logistic solutions.” 

Mr. Burckhard Schneider, President and Chief Executive Officer of Interturbine, added, “We are delighted to be working with B/E Aerospace and believe this partnership will move Interturbine into an exciting further stage of its development.” 



Mr. Khoury concluded, “The acquisition purchase price is approximately €200 million in cash. We expect this acquisition to be approximately neutral to 2012 and 2013 earnings, and solidly accretive to earnings beginning in 2014. The accretion to operating earnings from the Interturbine transaction in 2013 is expected to be offset by acquisition, integration and transition costs.” The transaction is subject to regulatory approval and is expected to close during the fourth quarter of 2012.
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