Aerospace supplier Triumph Group Inc. has agreed to purchase
General Donlee Canada Inc. in a $110-million deal that will
strengthen the buyers machining capability.
Triumph said the addition of Toronto-based General Donlee will
add $60 million to annual revenue and be "immediately
accretive" to earnings.
General Donlee, which
has been in business for 47 years, operates two Toronto-based
divisions: Donlee Precision and General Gear. The
companys primary products include engine shafts, thrust
links, rotorcraft masts and landing gear components.
The addition of
General Donlee will give Triumph "a strong position in engine
an main rotor shafts" Triumph president and chief executive
officer Jeffry D. Frisby said.
management will remain at the company, which will become part
of Triumphs Aerospace Systems Group.
In addition to
aerospace, General Donlees some 200 employees supply the
nuclear and oil and gas industries, including General Electric
Co.s GE Aviation subsidiary and Textron Inc.s Bell