A Burnley aerospace company is set to benefit from a multi-million dollar takeover of a US competitor.
MB Aerospace, the international aerospace engineering group, has acquired US-based Delta Industries, which had annual revenues in excess of $60m in 2012.
The buyout is positive news for workers at MB Aerospace’s Burnley plant in Widow Hill Road, which will expand the business to projected revenues of more than $160m (£100m.) and to 550 employees (up from 370) for the 2013 financial year.
Chief executive Craig Gallagher said: “With its wide range of capabilities, long-standing customer relationships and its strong management team, the Delta business has been a long-term target for MB Aerospace.
“It is a perfect fit with our ambitions for future growth. We are delighted to have succeeded in securing such a highly prized company and we believe the combined group is positioned to take advantage of the available opportunities for further expansion.
“MB Aerospace has always favoured manufacturing in the industrial heartlands of North America and the United Kingdom. Accessing the engineering skills and heritage of the Connecticut aerospace corridor will complement similar features of our existing operations in Detroit, Michigan, Motherwell, Burnley and Derby.”