TransDigm: Esterline Acquisition & ScioTeq Spin
Former President at Esterline Technologies & CEO of ScioTeq
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Former President at Esterline Technologies & CEO of ScioTeq
The executive has over 30 years aerospace experience with 20+ years at Barco, a segment of Esterline later spun-out and renamed ScioTeq. He was running a large division pre and post-acquisition by TransDigm.
Interview Transcript
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What were the margins for those businesses? How profitable were they?
When Barco's business was sold to Esterline, it was marginally profitable. It was so-so from Esterline to TransDigm. Under Esterline, we began to reorganize, and part of the journey to higher profitability was completed. This was due to the mindset that we needed two production sites for the same products, one in the US and one in Belgium, to support the US market better. Eventually, we saw that that didn't work any more and decided to close the factory in the US, which generated additional profits. The second part of the return to profitability journey was under TransDigm, which decided to close an additional site in Toulouse.
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