Smiths Group acquires Dynamic Gunver
London, England—Smiths Group, a leading transatlantic aerospace equipment company, has acquired Dynamic Gunver Technologies (DGT; Manchester, CT), a major fabricator of complex metal aircraft engine components.
Commenting on this significant expansion of their business, Dr. John Ferrie, group-managing director of Smiths Aerospace (a part of Smiths Group), says, "DGT provides a strong complement to our existing engine components business. This acquisition enables us to realize customer and product synergies across the business. Offering complete engine sub-assembly modules will substantially increase the size of our addressable markets."
DGT was a privately held company with revenues of $110 million and 500 employees in 2003. Among its major customers are Pratt & Whitney Aircraft and Pratt & Whitney Canada. Smiths, with a staff of 9000 and annual sales of $1.6 billion split between Europe and North America, supplies components to manufacturers of military and civil aircraft and aircraft engines.