HEADLINE NEWS
Snecma Buys Dowty, Eyes Space Deals
Paris and London Barely a year after a change at the corporate helm, Snecma has traded in a strategy based on selling off assets to one built on acquiring new ones. On Dec. 10, the French company said it had signed a letter of intent to buy U.K.-based TI Group’s 50% share in landing gear joint venture Messier-Dowty, along with Dowty’s maintenance, repair and overhaul (MR&O) activities, for 207.5 million pounds ($340 million) less adjustment for net debt.