US based TransDigm Group is set to acquire aerospace business of Takata Corporation for around $90 million in cash.
The deal consists of Takata’s subsidiary SCHROTH Safety Products and Takata Protection Systems along with other certain aviation and defense assets and liabilities from other companies.
SCHROTH Safety Products develops and manufactures restraint systems and other safety solutions for various kinds of aircraft and performance race cars, as well as for defense and other special applications.
The company was founded in 1946 and is based in Arnsberg, Germany with production plants in Germany; and Pompano Beach and Orlando, Florid.
Takata Corporation develops, manufactures, and sells automotive safety systems and products for automakers worldwide. It offers seat belts, including webbings, retractors, buckles, and tongue plates; and airbag systems comprising driver, passenger, side, curtain, knee, and motor cycle airbags.
Takata was founded in 1933 in Shiga Prefecture, Japan, by Takezo Takada.
About TransDigm Group
TransDigm Inc. designs, produces, and supplies engineered aircraft components for use in commercial and military aircraft worldwide. It operates through three segments: Power & Control, Airframe, and Non-aviation.
TransDigm Inc. was founded in 1993 by W. Nicholas Howley and Douglas W. Peacock and is based in Cleveland, Ohio.