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Triumph Group, a US aircraft manufacturer, has agreed to acquire the Essex and Germany-based aviation business of Kongsberg Automotive for £18 million.

Kongsberg provides cable control systems for European aerospace manufacturers, generating a turnover of some £8 million and employing 30 people.

Olav Volldal, Kongsberg’s chief executive, commented: “We believe that the Triumph Group will be able to utilise the full potential in this business, making the company a stronger supplier of aerospace systems and components.”

The deal is in line with Triumph’s expansion plans. Triumph president Richard C. III, said: “We view this acquisition as an opportunity to further complement our existing product line of electro-mechanical control systems and to expand the breadth of products and services we offer to our customers.”

The transaction is scheduled to be completed by 31 March and is subject to approval by the German and British aviation authorities.

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Comment by patrick taylor at 4:25pm, 12 Mar 2009

The deal is in line with Triumph’s expansion plans. Triumph president Richard C. III, said: What I say is that is a really unusual surname : ). Interesting articles but I thought I would mention this.