Moog Announces Agreement to Acquire GAT
East Aurora, NY -- Moog Inc. (NYSE: MOG.A and MOG.B) announced today that it has completed the acquisition of Gesellschaft für Antriebstechnik mbH and GAT Inc. (GAT) for a purchase price of €48.5 million (approximately $53.8 million). GAT is headquartered in Geisenheim, Germany and has approximately 200 employees.
GAT is a world leader in the design and manufacture of high-end fluid rotating unions and slip rings.The company’s products are used in a variety of applications including specialty industrial machinery,machine tools, steel mills, medical products, wind turbines, and semiconductor fabrication.
“We are pleased to welcome GAT to Moog’s expanding line of high-performance motion products,” said Pat Roche, President of Moog’s Industrial Systems segment. “This business complements our core slip ring business, expands our offering into fluid rotary products and allows us supply fully integrated slip ring/rotary union solutions – thereby increasing the value we deliver to our customers. The GAT product offering, engineering expertise and manufacturing capability will strengthen our market position.”
GAT anticipates 2019 year-end sales of €34 million (approximately $37.7 million). The business was founded in 1978 and has a successful history of providing fluid rotary unions into a diverse customer base, primarily in Europe, and over the past 10 years has expanded sales into China and the U.S.regions.
Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine, and medical equipment. Additional information about the company can be found at www.moog.com.
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These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. Given these factors, risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictive of future results. We disclaim any obligation to update the forward-looking statements made in this report.
Ann Marie Luhr