{"id":404044,"date":"2020-12-21T16:23:10","date_gmt":"2020-12-21T21:23:10","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404044"},"modified":"2020-12-21T16:23:10","modified_gmt":"2020-12-21T21:23:10","slug":"moog-announces-acquisition-of-genesys-aerosystems-group-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/moog-announces-acquisition-of-genesys-aerosystems-group-inc\/","title":{"rendered":"Moog Announces Acquisition of Genesys Aerosystems Group, Inc."},"content":{"rendered":"

<\/p>\n

Moog Announces Acquisition of Genesys Aerosystems Group, Inc.<\/b><\/p>\n

EAST AURORA, N.Y.–(BUSINESS WIRE<\/a>)–
\nMoog Inc. (NYSE: MOG.A and MOG.B) announced today that it has completed the acquisition of Genesys Aerosystems Group, Inc. (Genesys) for a purchase price of approximately $77.7 million. Genesys Aerosystems is headquartered in Mineral Wells, Texas and has 143 employees. The purchase includes the operating subsidiaries S-Tec Corporation and Genesys Aerosystems, Inc.\n<\/p>\n

\nGenesys designs and manufactures a full suite of electronic flight instrument systems and autopilot solutions specializing in fixed wing, rotorcraft, military and special mission aircraft fleet support with state-of-the-art avionics and product sustainment services.\n<\/p>\n

\n\u201cGenesys is proud to bring over 40 years of avionics experience into the Moog family,\u201d said Genesys CEO Roger Smith. \u201cJoining Moog positions us to continue our development of industry-leading avionics products and our relentless focus on delighting our customers for the long term.\u201d\n<\/p>\n

\n\u201cWe\u2019re excited to bring Genesys Aerosystems\u2019 products and people into Moog\u2019s Aircraft Controls Segment,\u201d said Mark Trabert, Moog Aircraft Controls Segment President. \u201cGenesys adds to our product and capabilities portfolio. The product synergies and cultural alignment of our two organizations will enable future growth beyond our current core flight control business.\u201d\n<\/p>\n

\nMoog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog\u2019s 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 Moog can be found at www.moog.com<\/a>. Additional information about Genesys Aerosystems can be found at www.genesys-aerosystems.com<\/a>.\n<\/p>\n

Cautionary Statement <\/b><\/p>\n

\nInformation included or incorporated by reference in this report that does not consist of historical facts, including statements accompanied by or containing words such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cbelieves,\u201d \u201cexpects,\u201d \u201cexpected,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cprojects,\u201d \u201capproximate,\u201d \u201cestimates,\u201d \u201cpredicts,\u201d \u201cpotential,\u201d \u201coutlook,\u201d \u201cforecast,\u201d \u201canticipates,\u201d \u201cpresume\u201d and \u201cassume,\u201d are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company\u2019s current views with respect to certain current and future events and financial performance and are not guarantees of future performance. This includes but is not limited to, the Company\u2019s expectation and ability to pay a quarterly cash dividend on its common stock in the future, subject to the determination by the board of directors, and based on an evaluation of company earnings, financial condition and requirements, business conditions, capital allocation determinations and other factors, risks and uncertainties. The impact or occurrence of these could cause actual results to differ materially from the expected results described in the forward-looking statements. These important factors, risks and uncertainties include:\n<\/p>\n

COVID-19 Pandemic Risks<\/b><\/p>\n