EAST AURORA, N.Y.--(BUSINESS WIRE)--Astronics Corporation (NASDAQ:ATRO), a leading supplier of advanced technologies and products to the global aerospace, defense, and semiconductor industries, announced today that is has purchased the operating assets of Custom Controls Concepts (CCC), located in Kent, Washington. CCC is the established market share leader in providing cabin management and in-flight entertainment (IFE) systems for the complete range of privately operated Boeing and Airbus aircraft, along with other select fixed and rotary wing aircraft models. Founded in 1998, CCC has completed more than 165 technology installations to date.
Peter J. Gundermann, President and Chief Executive Officer of Astronics Corporation, said, “We are pleased to have CCC join our company and contribute their capabilities, technologies and strong customer relationships. We are very familiar with the VVIP market through our PGA Avionics subsidiary, and, while current market conditions are challenging, we believe the cooperative pursuits of PGA and CCC working together will provide best-in-class technology and innovation to our customers. The addition of CCC furthers Astronics’ commitment to be the global leader in this market as it recovers in the coming years.”
Astronics does not expect the acquisition to materially impact 2017 earnings, and has not released the terms of the transaction at this time.
ABOUT ASTRONICS CORPORATION
Astronics Corporation (NASDAQ:ATRO) is a leading supplier of advanced technologies and products to the global aerospace, defense and semiconductor industries. Astronics’ products and services include advanced, high-performance electrical power generation and distribution systems, seat motion solutions, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems. Astronics’ strategy is to increase its value by developing technologies and capabilities, either internally or through acquisition, and using those capabilities to provide innovative solutions to its targeted markets and other markets where its technology can be beneficial. Through its wholly owned subsidiaries, Astronics has a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices.
