In what Rogerson Aircraft Corp. said is part of a continuing series of acquisitions, the Irvine-based manufacturer of aircraft components said Tuesday that it will purchase two West German companies owned by a subsidiary of New York-based Sun Chemical Corp.
However, news of the pending acquisition came as a surprise to Robert Davis, Sun Chemical's president, who said that, while his company has been looking for a buyer for the two German units since late last year, he was not aware that a final agreement had been reached with Rogerson.
Sun Chemical has been negotiating the sale of the two units, held by its Kollsman Instruments Co. subsidiary, which is based in Merrimack, N.H., and is "close to a decision," said Davis, who declined to confirm Rogerson's announcement.
Nevertheless, Rogerson made a formal announcement of the purchase, and John McNeil, Rogerson's vice president of technology and planning, said a firm deal has been struck between the two companies. The acquisitions should be complete "within the next few weeks," he added.
Signed Final Papers
Sun Chemical, he said, signed the purchase agreements Jan. 3, adding that Michael Rogerson, founder and chairman of the privately held company, signed the final papers after returning from a trip to Europe last week.
"I can assure you there is a definitive agreement," said McNeil, who declined to disclose how much Rogerson will pay for Kollsman System Technique GmbH of Munich and Bavaria Keytronic Technologie GmbH of Hamburg.
Kollsman manufactures altimeters and aircraft pressure devices for both commercial and military aircraft; Bavaria Keytronic makes instrument panels and camera equipment used for aerial reconnaissance by the West German air force.
Rogerson builds secondary instruments and equipment for aircraft built by Boeing and McDonnell Douglas. In addition, the company's Hiller Helicopter division manufactures two types of helicopters, including a turbine-powered model adapted for military sales overseas.
In December, 1984, Rogerson set out on the acquisition trail with the purchase of Kratos Aviation Products of Pasadena for more than $5 million. More recently, the company purchased a Michigan-based manufacturer of helicopter rotor blades.
Although McNeil would not say what is next on Rogerson's list of acquisitions, several more are under way, "both of domestic and off-shore companies."