British engineering giant GKN – a major player in Bristol’s aerospace industry – is to buy historic Dutch aviation firm Fokker for €706m (£500m).
GKN, which employs around 2,000 people at its two Bristol sites, said the acquisition would reinforce its position in key civilian and military aircraft programmes, such as the Airbus A350 wide-body jetliner, whose wings are designed in Bristol.
Fokker specialises in supplying aerostructures, wiring connection systems and landing-gear. It also acts as a maintenance and modification provider. 
GKN bought Airbus’s Filton manufacturing operations in 2008 and now makes wing sections for all Airbus passenger planes on the site as well as parts for other aircraft manufacturers.
It also has a plant at Severnside making wing parts out of innovative composite material, including for the A350.
Today’s deal will lift GKN into the number two position globally for lightweight aerostructures. GKN is paying Fokker’s owners Arle Capital Partners €500m in cash and taking on €206m in debt.
GKN’s aerospace division had global sales of around £2.2bn last year – just under a third of total sales at the group, which also makes driveline automotive products.
The aerospace division has a global workforce of about 12,000.
GKN Aerospace chief executive Kevin Cummings said of the Fokker deal: “This acquisition strengthens GKN Aerospace’s position as a market leader, enhances its global manufacturing footprint and adds new technology.”
Fokker was founded in 1912 by aviation pioneer Anthony Fokker, who built monoplanes for the Germany military – becoming notorious during the dog fights of First World War.
Today Fokker has almost 5,000 employees and operations in Europe, North America and Asia. During 2014, Fokker generated revenues of €758m, made earnings before interest, taxes, depreciation and amortisation of €76m and had total assets of €814m.
GKN also makes parts for French group Dassault and Lockheed Martin at Filton.
