buy mggt

For immediate release

25 November 2015






Meggitt PLC

("Meggitt")



Completion of Acquisition



Meggitt completes acquisition of the advanced composites businesses of Cobham plc



Further to the announcement made on 10 August 2015, Meggitt confirms that the acquisition of the advanced composites businesses of Cobham plc (Cobham Advanced Composites Limited, Compass Composites Products Inc and certain assets of Cobham Advanced Electronic Solutions Inc) for $US 200 million in cash has now received all necessary approvals and the transaction has been completed.



The acquired businesses will be integrated into Meggitt's polymers and composites division.



ENDS



For further information, please contact:


Meggitt

01202 597 597


Doug Webb, Chief Financial Officer




Richard Cashin, Group Head of Investor Relations









Buchanan Communications

020 7466 5000


Charles Ryland




Richard Oldworth




Editor's notes:

About the advanced composites businesses of Cobham plc

The advanced composites businesses of Cobham plc comprise Cobham Advanced Composites Limited, Compass Composite Products Inc and certain assets of Cobham Advanced Electronic Solutions Inc. With a combined workforce of over 480 employees across four facilities in the US and the UK, the businesses are global leaders in the design, development and production of highly engineered aerospace composite engine components, radomes and structures. With over 30 years' advanced composite products experience, they have developed significant intellectual property and deep manufacturing know-how over decades and, through substantial investment, strong, established market positions.

Meggitt PLC

Not exactly setting the world on fire but slow but sure from the lows.

For immediate release
7 December 2015


Meggitt PLC
("Meggitt")


Update on short and medium-term trends and
Guidance for 2016


Meggitt PLC, a leading international engineering company specialising in high performance components and sub-systems for the aerospace, defence and energy markets, will today update analysts and investors on short and medium-term market trends, and provide guidance for 2016.

Trading during October and November has been consistent with guidance given at the time of the October trading update.

For the full year 2016, Meggitt anticipates organic (excluding the effects of acquisitions, disposals and foreign exchange) revenue growth of low- to mid-single digits in civil OE, civil aftermarket and military, and a continued decline in energy reflecting weakness in the broader energy market. These will aggregate to a Group organic growth rate in low-single-digits, with reported revenue growth benefitting from the effect of the acquisitions announced earlier this year. Meggitt anticipates that the negative mix effects in the second half of 2015 will continue into 2016, and will be broadly offset by the previously announced cost reduction activities.

Cash generation for the Group remains good, and the Board remains committed to a progressive dividend policy.

Over the medium term, the Group is well positioned to deliver organic revenue growth ahead of the end markets in which it operates. This replaces previous revenue guidance.

The analyst and investor call, to be held today at 1.30pm GMT, will be hosted by Stephen Young, Chief Executive; Doug Webb, CFO; and Richard Cashin, Group Head of Investor Relations. The dial-in details are as follows:

From the UK: 0800 368 0649
International: +44 (0)203 059 8125
Participant code: Meggitt.

The accompanying slide show can be reached at: www.incommuk.com/customers/meggitt

A replay of the call, and the full slide deck, will be available at www.meggitt.com after the event.


ENDS

Another large gap slowly but surely being filled from the lows.

Trying again, some strong resistance @ 420p patience required.

Gap filled.

Broker Forecast - JP Morgan Cazenove issues a broker note on Meggitt PLC

BFN

JP Morgan Cazenove today upgrades its investment rating on Meggitt PLC (LON:MGGT) to neutral (from underweight) and raised its price target to 445p (from 395p).

Story provided by StockMarketWire.com

Hedge fund Elliott courting Meggitt shareholders, sparking rumours of break-up push.
Ben Martin
13 AUGUST 2016 • 8:03PM
The US hedge fund Elliott Management has begun courting major shareholders in Meggitt, triggering speculation it intends to force a break-up or sale of the beleaguered aerospace engineer.

Last week, Elliott’s UK arm revealed it had amassed a 5.2pc stake in Meggitt through contracts-for-difference, making it the fifth-biggest investor in the FTSE 250 company.

It is understood that since then, Elliott has started to contact other big shareholders in Meggitt to arrange meetings and discuss the company.

The manoeuvrings have led to speculation that the hedge fund is gauging shareholder support for a plan to either sell off parts of the engineer or to find a buyer for the entire business.

Elliott’s swoop on Meggitt is the latest in a series of high-profile interventions by the aggressive hedge fund in UK companies. Last week, pressure from Elliott forced South Africa’s Steinhoff to lift its takeover offer for retailer Poundland to £610m. That success came after Elliott built a 17.2pc stake in the discount chain.
The hedge fund, which was founded by billionaire Paul Singer, also led investors in a successful campaign to force Stella Artois-owner Anheuser-Busch InBev to boost its bid for FTSE 100 brewer SABMiller to £79bn last month.

Elliott has not yet revealed its plans for Meggitt, which makes parts for civilian and military planes, including the new F-35 stealth fighter, and also has a small energy business. Earlier this month, the engineer posted a 60pc plunge in first-half pre-tax profits to £46.6m after it was hit by the pound’s slump following the Brexit vote.

The company’s shares lost more than a fifth of their value in a single day in October after it sounded a profit warning that it blamed on the slowdown in the oil and gas industry and faltering demand from the aerospace sector.

Meggitt has in the past attracted rumours that it could be bought by an American giant such as Honeywell, the engineering and aerospace conglomerate.

The engineer’s shares climbed 8.8pc last Monday when Elliott appeared on the company’s shareholder register amid investor excitement that the activist could be a catalyst for a deal.

It is understood that the hedge fund, which has an office in London, started to build its stake in January.

Spokesmen for Elliott and Meggitt declined to comment.

StockMarketWire.com
Meggitt said Meggitt Sensing Systems has been awarded a $48m contract for a Health and Usage Monitoring System (HUMS) from Guangzhou Hangxin Avionics Co Ltd (Hangxin) for its Avicopter AC313/SJ and AC352 helicopters.

The programme lifetime contract covers the design, development and delivery of on-board hardware - vibration sensors, data acquisition and processing electronics - and ground station software for detailed data analysis and after sales support.

HUMS helps flight crew and maintenance staff monitor the health of engines, cabin, drive train and rotor gearboxes to minimise cabin vibration and detect impending failures.

The system promotes the safe running of aircraft. However, it plays a critical role in promoting effective operating economics, the key to which is predictable and therefore cost-effective maintenance.

The Avicopter SJ is the firefighter version of the three-engine, 13-ton class AC313, the heaviest helicopter developed in China.The AC352 is the Chinese version of the twin-engine, multi-purpose EC175 helicopter developed jointly by AVIC (the Aviation Industry Corporation of China) and Airbus Helicopters.

Deliveries start in 2019. Sales of up to 500 units of each platform have been forecast over the next 20 years

StockMarketWire.com
QinetiQ has acquired Meggitt Defence Systems Ltd and Meggitt Holdings Canada Inc (together 'Meggitt Target Systems') from Meggitt for £57.5m on a cash-free, debt-free basis.

Meggitt Target Systems is an international provider of unmanned aerial, naval and land-based target systems and services for test and evaluation ("T&E") and operational training and rehearsal.

The business is expected to generate approximately £28 million of revenue and approximately £5.5m of operating profit in the year to 31 December 2016.

Meggitt Target Systems provides target systems to approximately 40 countries from its operations in the UK and Canada, and performs on-site target services in 15 of those countries.

It will form part of QinetiQ's new International business unit and will be reported within QinetiQ's Global Products division.

Jefferies note today:
"Meggitt's rejuvenation has taken a lot more than a good night's sleep (high R&D and PPCs in recent years, and out to FY20). The process will not be complete for some years, but with an "unprecedented" number of parts and systems won on new aircraft/engine programmes, its efficacy should be apparent within 12 months. We raise our PT from 500p to 600p. Our recommendation moves from Hold to Buy."

JP Morgan Cazenove Buy 513.75 500.00 600.00 Reiterates

Jefferies International Buy 513.75 500.00 600.00 Upgrades