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Cobham Takes Full Control of Helicopter Training JV; Bob Murphy Comments

Cobham Takes Full Control of Helicopter Training JV; Bob Murphy Comments - top government contractors - best government contracting event
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CobhamLogo1 - ExecutiveMosaicCobham Plc has acquired full ownership of its helicopter services joint venture with Bristow Helicopters Ltd for $112 million cash.

FBH“™s management team will continue operating the venture and Cobham intends for the investment to complement its aviation services business, Cobham said Monday.

Cobham says it intends provide customers with a transportation system combining helicopters and winged aircraft and seek opportunities in non-U.S. defense markets.

Bob Murphy, Cobham CEO, said FBH has won several contracts worldwide and holds a portfolio in outsourcing markets.

The deal is expected to increase the earnings of Cobham and cover capital costs during the first year following the acquisition.

Cobham also assumes FBH“™s net debt of approximately $57 million, the company said.

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Written by Jay Clemens

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