Moog has divested its European In-Space Propulsion businesses to Nammo

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Moog has divested its European In-Space Propulsion businesses to Nammo 2017-06-29T19:39:37+00:00

Project Description

Moog, Inc. (NYSE: MOGA) has divested its European In-Space Propulsion businesses (“Moog ISP-E”) to Nammo AS.  With three facilities across the UK and Ireland, Moog ISP-E is a leader in the design and manufacture of liquid rocket engines, thrusters, valves and components used for in-space propulsion of satellites and space vehicles.  The company has substantial activity in the European launching market including the provision of structural engine components and high performance thruster valves for the Ariane 5 and 6 heavy lift launch vehicles.  Moog ISP-E will become a part of the Nammo Aerospace Propulsion business unit and further its position as one of the world’s leading manufacturers of compact thrusters and rocket engines for space launchers and satellites.

Mr. Frank Møller, Executive Vice President of Nammo Aerospace Propulsion, commented, “These facilities bring with them an impressive offering of flight qualified products currently used on space launchers, on numerous satellites orbiting Earth, and on space probes exploring the planets Mercury, Mars and Jupiter.  We have worked with them for several years as a supplier, and are very pleased to welcome them to the group,”

With revenues of $2.5 billion, Moog is a global leader in the design and manufacture of precision control systems for high-performance applications on military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment.

Headquartered in Norway, Nammo is an international aerospace and defense company that is one of the world’s leading manufacturers of shoulder-launched munitions systems, military and sports ammunition, rocket motors for military and space applications, and environmentally friendly demilitarization services.

Terms of the transaction were not disclosed.  Philpott Ball & Werner, LLC served as investment banker to Moog.  For more information about this transaction, please contact Ted Werner at twerner@pbandw.com or Erik Appareti at eappareti@pbandw.com.