Hutchinson has concluded an agreement with Airbus and Safeguard for the repurchase of the German company PFW Aerospace, specialized in the manufacturing of pipes and fuel tanks.
Airbus has found a buyer for the German company PFW Aerospace. The group Hutchinson will acquire the company specialized in the manufacturing of pipes, fuel tanks as well as structural components for aircraft. PFW Aerospace's main customers are Airbus and Boeing. The company has 2,000 people located in three sites: the head office at Speyer, Germany and two sites of production, Izmir, Turkey, and Nuneaton, Great Britain. With this repurchase, Hutchinson strengthens its presence in the segment of fluid management for the aeronautical sector. Acquired by Airbus in 2011, PFW Aerospace has always been considered has a temporary affiliate for the European group.
The German company has been founded within the aircraft manufacturing company Pfalz-Flugzeugwerke, which has produced military aircraft during the two world wars. The company had then been integrated by Deutsche Aerospace Airbus before being divested to the staff, then in 2011 to the investment company Safeguard, still minority shareholder. Hutchinson already expressed interest during Airbus’ previous attempt to sell PFW Aerospace in 2015, as did Eaton, Parker and investment companies such as Bridgepoint, Bregal and Liberty Hall.