Industry Boeing to acquire EnCore Group

U.S.-American aircraft manufacturer Boeing has announced, that the company is set to acquire the EnCore Group, an aerospace interiors supplier.

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An agreement has been signed between Boeing and California-based EnCore Group. Boeing will buy the aerospace interior company, which designs, certifies and produces airplane galleys and seats for airlines.

With this latest acquisition, Boeing furthermore strengthens its internal capabilities to increase innovation within its cabin competence. According to the manufacturer, the acquisition includes the entire company including EnCore Interiors, EnCore International and LIFT by EnCore.

“With this acquisition, we aim to deliver quality and high-value interior offerings that our customers expect, and passengers prefer,” said Sheila Remes, cabin vertical leader and vice president of Strategy at Boeing. “Boeing and EnCore have a history of partnering on products, and we are excited for EnCore and its employees to join the Boeing family.”

In a statement, Boeing added: “The acquisition of EnCore Group is an example of Boeing’s strategy to complement organic growth with strategic acquisitions. Boeing’s cabin vertical is one of a series of targeted vertical integration efforts to provide more options and value to customers by developing and building in-house capabilities in key areas, including those that strengthen Boeing’s support of the customer, even beyond the airplane through Boeing Global Services.”

The transaction is expected to close by the end of the second quarter in 2019. This date however is still subject to customary conditions.

EnCore Group is currently headquartered in Huntington Beach, California. The company employs approximately 700 people and operates facilities in California and Mexico. EnCore is working with Boeing since its formation in 2011 and was previously known as the Supplier of the Year for Boeing.

Boeing is the world´s largest aerospace company and a leader in the development of commercial aircraft, space and security systems and global services. Boeing supports and exports to commercial and government customers in the more than 150 countries worldwide. More than 150,000 people are being employed by the company.

Recently, Boeing has experienced hard times, after the crashes of the Boeing 737 MAX 8 aircraft in Indonesia and Ethiopia. Flaws in the certification process had been founded that lead to the death of over 300 people. Boeing is currently working on a software update for the MAX series. Until then, every aircraft is being grounded worldwide.

Source © boeing.mediaroom.com

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