A British aero- and auto-parts company with Cromwell operations has acquired Volvo Aero in Newington, creating a single maker of aeroengine parts and other aerostructures.
GKN Aerospace Services – headquartered in Redditch, Worcestershire, United Kingdom — completed its acquisition of Volvo Aero, which is the aerospace division of the Swedish transportation manufacturer. The U.S. division of Volvo Aero is based in Newington.
The new company is GKN Aerospace Newington LLC. Financial terms were not disclosed.
Volvo Aero designs, engineers and manufactures components and sub-assemblies for aircraft engine turbines, employing 3,000 in the U.S., Sweden, and Norway.
The Newington division at 179 Louis St. got $2 million from the state in 2009 to purchase new machinery and equipment.
GKN’s Cromwell operations are at 1000 Corporate Row.
