TORONTO, ONTARIO -- A US subsidiary of Firan Technology Group has acquired substantially all the assets of Airco Industries, a Texas based designer and manufacturer of a full portfolio of cockpit products, electronic assemblies and simulator solutions.

The deal between Chatsworth, CA-based FTG Aerospace and Airco, which does business under the name Photo Etch, includes processing equipment, product designs, process know-how, customer contracts as well as the working capital of PhotoEtch.

After a transition period, the transaction is expected to generate "significant incremental contribution margin" to FTG's Aerospace business unit due to higher manudacturing utilization.

FTG said its purchase of PhotoEtch's assets has significant strategic benefit toward accelerating penetration of a significant number of commercial aerospace, defense and simulator customers, primarily in the United States.

"We are excited about this deal as it enables FTG to continue its strategy of consolidating smaller manufacturers into a larger, more capable company that can compete on a world scale," said Brad Bourne, president and chief executive of FTG. "As we built out our global footprint for our Aerospace business we realized that getting the utilization rates up quickly was an important but challenging goal, and this acquisition will obviously accelerate the process."

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