Acquisition of SP Aerospace activities by Fokker finalised

16 September 2004

Fokker has reached agreement with the receiver mr. A.A. Deterink about the acquisition of the assets relating to the aerospace activities of SP Aerospace & Vehicle Systems in Geldrop, the Netherlands, which was recently declared bankrupt. The activities include the development and production of landing gear for the successful NH90 helicopter project in which Fokker is a participant.
The acquisition means that Fokker will be able to continue the production and supply of the landing gear for the NH90. The operations will be resumed at the required level as quickly as possible with the 160 employees of the acquired activities.
The sum of € 3 million will be paid for the SP Aerospace assets. Fokker will also have to make investments in the near future in the completion of development orders and the restarting of production, including working capital. This is expected to involve a total of € 10 million. The overall transaction will on balance have no effect on the result of Fokker.

SP Aerospace (annual turnover approximately € 20 million) specialises in the development and production of aircraft landing gear and other aerospace components for the NH90 and Apache helicopters, the F16, the JSF and other programmes. NH90 is a highly successful European helicopter programme handled by NH-Industries, the European consortium of Fokker Aerospace Group (5.5%), Eurocopter (France/Germany, 62.5%) and Agusta (Italy, 32%). Including very recent additional orders from Oman (20) and Australia (12), the production contracts now comprise a total of 357 aircraft, representing a value to Fokker of € 287 million over a period of 15 years.

Fokker Aerospace Group develops and produces advanced components and systems for the aviation and aerospace industry, and supplies integrated services to aircraft owners and operators. The group achieved a turnover of € 478 million in 2003 with 3,000 employees out of the total Stork turnover of € 1.94 billion.

Press information:
Stork N.V.
Dick Kors Tel.: +31 (0) 35 - 695 75 75
or 06 - 51 98 40 54