Hanwha Aerospace acquires Edac TechnologiesHanwha Aerospace has completed the acquisition of Edac Technologies, the company said Tuesday.
The airplane parts maker acquired 100 percent of the Connecticut-based company, which specialized in the manufacturing of aero-engine components, for roughly $300 million. The acquisition was finalized three months after the deal was signed.
The acquisition gives the company a physical presence in the United States near major customers.
“The acquisition of Edac will allow us to continuously expand our engine component business and take us closer to achieving our vision to become the No.1 global partner in aircraft engines,” said Hanwha Aerospace CEO Shin Hyun-woo.
By Kim Jee-hee
More in Industry
Battery business eclipses oil as demand shifts for good
Kakao proves Japan has an appetite for Korean webtoons
Korea seeks to import remdesivir to treat coronavirus
Samsung’s de facto leader appears for more questioning
Hyundai's take on flying car may star alongside Spider-Man