Company News, 2013-08-01, 11:00 AM
ThyssenKrupp Aerospace acquires the business activities of The Waterjet Group in the UK
ThyssenKrupp Aerospace, via its UK subsidiary, has acquired the business activities of The Waterjet Group, based in Darton, South Yorkshire/UK. The closing took place on July 31, 2013. The parties have agreed not to disclose the purchase price.
The Waterjet Group (around 40 employees) was established in 2002 and is a leading UK waterjet cutting company for the aerospace industry. The company has several waterjets and related value add equipment, a large number of aerospace approvals and to a smaller extent also serves other high-tech industries, including the medical technology sector. The Waterjet Group operates out of a site near Leeds. With its equipment the company is able to process a wide range of materials and sizes for the European and international customer base.
ThyssenKrupp Aerospace has been working with The Waterjet Group for many years and will be integrating its employees, equipment and technical expertise into the ThyssenKrupp Aerospace global network.
“The acquisition of The Waterjet Group has strategic advantages for us,” explains Jürgen Funke, President of ThyssenKrupp Aerospace. “We have been successfully operating waterjet cutting facilities in the USA, Canada, Australia and Finland, the UK is a logical extension of these services. This integration will significantly strengthen our offering to our global customer base, especially to customers in the UK.”
As the acquisition will considerably ease the logistics of waterjet cutting services, customers in other European markets will also benefit from a faster, more cost-efficient service. John Ferguson, Managing Director of ThyssenKrupp Aerospace UK states: “We expect the combination of The Waterjet Group’s and ThyssenKrupp Aerospace’s expertise to deliver further productivity improvements and growth opportunities. The special focus on improving near net shape cutting, thus improving the metal-utilization, will continue to be part of our strategic goal.”
Steve Smith, Managing Director of The Waterjet Group, states: “This is a very positive and exciting move for the company and its employees. We foresee many new opportunities working with ThyssenKrupp Aerospace and look forward to continue to service our existing customers with an increased level of commitment and service that comes with a larger organization."