掀开奶罩边躁狠狠躁苏玥视频,无码专区3d动漫精品,去阳台跪着把屁股抬起来,精品国产丝袜黑色高跟鞋


Hanwha Aerospace faces growing financial strain for EDAC takeover

  • Tuesday, June 18, 2019
  • Source:ferro-alloys.com

  • Keywords:Silicon Metal Ferroalloys Vanadium
[Fellow]Hanwha Aerospace faces growing financial strain for EDAC takeover

Credit ratings agencies are downgrading their outlook for Hanwha Aerospace as the aviation arm of conglomerate Hanwha Group grapples with an increasing financial burden after acquiring the U.S. aircraft engine manufacturer, EDAC Technologies.

On Monday, Hanwha Aerospace said it would take over EDAC from Greenbriar Equity Group for $300 million and complete the acquisition by the end of 2019. The company plans to acquire EDAC through Accelerate Merger Corp. (AMC), its subsidiary in the U.S. 
Following the announcement, NICE Investors Service issued a report Wednesday, saying it had placed Hanwha Aerospace under observation. It said it would downgrade the company's credit rating to AA- from A+ at the end of the year if the company increases its loans. 
"Hanwha Aerospace's acquisition of the entire stake in EDAC is expected to add 350 billion won ($300 million) to the company's outstanding debt of 1.06 trillion won," said Kim Yeon-su, an analyst at NICE Investors Service. 
"Factors that are weighing on the company are its M&A deals since 2016, including the acquisition of Hanwha Defense (the former Doosan DST), Hanwha Systems, and the group's other aerospace and machine tool business units," Kim said.
The agency, however, said Hanwha Aerospace's financial burden could ease if it successfully takes Hanwha Systems public. The company, which has a 52.9 percent stake in Hanwha Systems, could secure a substantial amount of cash by selling shares.
When asked how the company can tackle the growing financial pressure, Hanwha Aerospace said it was not worried because EDAC has stable assets and a stable cash flow. 
"We actually believe our financial situation will be better after we acquire EDAC," a company official said. "By adding EDAC to our value, we aim to expand our aircraft engine parts business."
The company said that although it is reviewing an initial public offering for Hanwha Systems, the timing is undecided, adding it would have minimal impact on the firm.
Established in 1946, EDAC is a component maker for aircraft engines and airframes based in Connecticut. Its main clients include Pratt & Whitney, General Electric and Rolls-Royce.

  • [Editor:tianyawei]

Tell Us What You Think

please login!   login   register
Please be logged in to comment!
主站蜘蛛池模板: 津南区| 兴隆县| 顺昌县| 乳山市| 天长市| 浦江县| 黔江区| 西乡县| 封丘县| 澄城县| 来凤县| 顺平县| 辽宁省| 贵阳市| 巴楚县| 巴东县| 阿城市| 云和县| 如东县| 海安县| 奇台县| 镇安县| 博野县| 双桥区| 睢宁县| 九台市| 汾阳市| 集贤县| 阳曲县| 奎屯市| 芦溪县| 大石桥市| 定襄县| 大埔区| 象州县| 泗水县| 宁武县| 崇信县| 平原县| 二连浩特市| 车致|