Owners of Norwich-based Air Livery complete £6m buyout deal of French firm
- Credit: Evening News © 2008
The parent company of Norwich-based Air Livery has completed a £6m deal to buy a French aircraft painting company.
The acquisition of Aero Technique Espace (ATE) by Indian-owned Air Works comes as Air Livery has outlined ambitious plans to expand the business on a new purpose-built site at Norwich International airport.
Julian Duffen, managing director of Air Livery, said the move will help strengthen Air Livery's market position as a leading provider of painting services to the European commercial and military aircraft market.
'Having worked as a partner with ATE for 15 years, the acquisition was the next natural evolution in our relationship,' Mr Duffen said. 'Robert Wasilewski, the previous owner, will remain in an advisory position through the transition phase to help integrate ATE seamlessly into the Air Livery network'
ATE has facilities in Chateauroux and Toulouse in southern France.
Vivek N Gour, Air Works chief executive, said: 'ATE is a strategic acquisition for Air Works. It will provide Air Livery not only access to world class hangar facilities in Europe, but also add green aircraft painting to its portfolio of services.'
Paul Woods, sales and marketing director at Air Works and Air Livery added: 'Air Livery and ATE will develop Chateauroux as a strategic location for both green aircraft painting and repainting services. Chateauroux is well placed centrally in France offering many European and North African customers an ideal location, thus reducing ferry costs and downtime.'