US firm Moog buys subsea specialist Tritech

August 23, 2012 - via BBC News

Aberdeenshire-based underwater technology firm Tritech International has been bought by a US producer of precision control systems. New York-based Moog Inc said it had paid about £21m for the Westhill firm.

Tritech, which was founded in 1991, specialises in acoustic sensors, sonars, mechanical tooling equipment and video cameras. Its markets include remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs).

Tritech will be folded into Moog's components arm, which supplies motion and fibre optic products and solutions for marine, medical, industrial, aerospace and defence applications.

Moog Components Group president Larry Ball said: "The acquisition of Tritech brings several very strong products to our marine portfolio, as well as an experienced team of individuals who have a reputation of delivering quality products and services to the ROV and AUV markets."

Tritech sales are expected to add about $2m (£1.26m) to Moog's revenues for the remainder of the company's current fiscal year.

Moog Inc designs, manufactures and integrates precision control components and systems. Its systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment.

External link: http://www.bbc.co.uk/news/uk-scotland-scotland-business-19358230

Related Organizations:
Tags:
Author:

Search Community News

Browse Archive

Top Stories of the Months

Categories