EAST AURORA, N.Y.–(Enterprise WIRE)–Moog Inc. (NYSE: MOG.A and MOG.B) announced today that it has completed the acquisition of Dublin, Eire primarily based Group Add-ons Limited (“TEAM”). The invest in selling price was not disclosed. The small business will help Moog’s present-day Professional Aftermarket assistance choices and increase its international reach.
Crew is a main aerospace and industrial engineering business specializing in Upkeep, Repair and Overhaul (MRO) with tests and repair solutions for airframe parts and safety tools. The company’s core organization is centered on vital and substantial-worth jet motor extras made use of by world-wide industrial airline and cargo carriers, but also gives expert services to the industrial fuel turbine sector. Crew Accessories has 40 staff members working in its Dublin engineering web page.
“We’re enthusiastic to provide TEAM’s solutions and people into Moog’s Aircraft Controls segment,” claimed Mark Brooks, Moog Business Aftermarket Team Vice President and Common Supervisor. “Staff expands our merchandise and capabilities portfolio for the aircraft engine extras industry. Their standing for large excellent and responsible provider in good shape well with Moog’s main principles.”
Moog Inc. is a globally designer, maker, and integrator of precision manage factors and methods. Moog’s large-efficiency systems regulate military services and industrial plane, satellites and space vehicles, start motor vehicles, missiles, automatic industrial equipment, marine and health care tools. Supplemental information about the organization can be found at www.moog.com. For extra info on Moog’s industrial aftermarket companies stop by www.moogtotalsupport.com.
Details provided or incorporated by reference in this report that does not consist of historical specifics, such as statements accompanied by or containing words these types of as “may,” “will,” “should,” “believes,” “expects,” “expected,” “intends,” “plans,” “projects,” “approximate,” “estimates,” “predicts,” “potential,” “outlook,” “forecast,” “anticipates,” “presume” and “assume,” are forward-wanting statements. These ahead-searching statements are produced pursuant to the safe harbor provisions of the Personal Securities Litigation Reform Act of 1995. These ahead-searching statements are not ensures of foreseeable future performance and are issue to quite a few elements, pitfalls and uncertainties, the influence or event of which could induce real success to differ materially from the anticipated outcomes described in the forward-seeking statements. In analyzing these ahead-looking statements, you really should thoroughly think about the components set forth down below.
While it is not possible to produce a complete checklist of all variables that might induce genuine final results to vary from the results expressed or implied by our forward-searching statements or that could have an effect on our future success, some of these factors and other challenges and uncertainties that crop up from time to time are described in Product 1A “Risk Factors” of our Once-a-year Report on Variety 10-K and in our other periodic filings with the SEC and include the subsequent:
COVID-19 PANDEMIC Challenges
- We experience different hazards related to health and fitness pandemics these kinds of as the global COVID-19 pandemic, which might have content adverse penalties on our functions, financial position, money flows, and those of our prospects and suppliers.
- We work in remarkably competitive markets with competition who might have greater methods than we have
- Our new merchandise and technological know-how study and development initiatives are considerable and may well not be profitable which could reduce our sales and earnings
- Our incapability to adequately implement and defend our intellectual residence or defend from assertions of infringement could avert or limit our ability to compete and
- Our sales and earnings could be influenced if we are unable to identify, obtain or integrate strategic acquisitions, or as we conduct divestitures.
Marketplace Ailment Pitfalls
- The markets we serve are cyclical and sensitive to domestic and international financial circumstances and occasions, which may possibly result in our operating final results to fluctuate
- We depend greatly on governing administration contracts that could not be entirely funded or may well be terminated, and the failure to get funding or the termination of just one or extra of these contracts could decrease our product sales and improve our costs
- The loss of The Boeing Corporation or Lockheed Martin as a client or a major reduction in sales to both firm could adversely effect our operating results and
- We may not know the complete amounts mirrored in our backlog as income, which could adversely affect our foreseeable future profits and development prospective buyers.
- Our business functions may possibly be adversely influenced by details methods interruptions, intrusions or new software implementations
- We might not be ready to protect against, or timely detect, difficulties with our merchandise and our producing procedures which may perhaps adversely affect our operations and our earnings
- If our subcontractors or suppliers fall short to complete their contractual obligations, our key contract performance and our ability to receive potential small business could be materially and adversely impacted and
- The failure or misuse of our products and solutions may possibly problems our standing, necessitate a product remember or final result in statements from us that exceed our insurance coverage protection, thereby necessitating us to spend significant damages.
- We make estimates in accounting for above-time contracts, and improvements in these estimates may possibly have significant impacts on our earnings
- We enter into fastened-value contracts, which could issue us to losses if we have price overruns
- Our indebtedness and restrictive covenants beneath our credit history amenities could restrict our operational and money adaptability
- The phase out of LIBOR may well negatively impact our credit card debt agreements and economic place, effects of functions and liquidity
- Sizeable variations in price reduction premiums, premiums of return on pension property, mortality tables and other variables could adversely influence our earnings and fairness and increase our pension funding demands
- A produce-off of all or component of our goodwill or other intangible assets could adversely have an affect on our functioning success and web worth and
- Unexpected publicity to more cash flow tax liabilities may influence our functioning results.
Authorized AND COMPLIANCE Challenges
- Contracting on authorities systems is matter to important regulation, which includes regulations similar to bidding, billing and accounting benchmarks, and any fake promises or non-compliance could subject us to fines, penalties or attainable debarment
- Our operations in international nations expose us to currency, political and trade hazards and adverse variations in regional legal and regulatory environments could influence our effects of operations
- Government laws could limit our means to sell our products outside the United States and in any other case adversely impact our enterprise
- We are concerned in several authorized proceedings, the final result of which may perhaps be unfavorable to us and
- Our functions are subject matter to environmental rules, and complying with individuals regulations may well lead to us to incur substantial expenses.
- Foreseeable future terror assaults, war, organic disasters or other catastrophic occasions outside of our handle could negatively influence our small business and
- Our general performance could endure if we can’t keep our culture as well as bring in, retain and engage our personnel.
When we believe we have discovered and talked over over the material challenges influencing our company, there may perhaps be supplemental factors, threats and uncertainties not now recognised to us or that we at the moment consider immaterial that may influence the forward-on the lookout statements built herein. Provided these variables, hazards and uncertainties, investors really should not spot undue reliance on ahead-seeking statements as predictive of potential benefits. Any forward-looking assertion speaks only as of the day on which it is designed, and we disclaim any obligation to update any forward-wanting statement produced in this report, other than as needed by legislation.