Canada-based AirBoss expects to complete the formation of AirBoss Defense Group (ADG) in the fourth quarter of 2019 by merging its defence activities with privately run US company Critical Solutions International (CSI).
AirBoss announced the deal in May, but it remains subject to approval by the Committee on Foreign Investment in the United States. In the meantime, AirBoss continues to bid on international defence contracts.
“While management believes there are numerous synergies associated with the transaction, most important is the creation of a strong platform with the scale, capabilities, and flexibility to act on an array of growth opportunities, both organic and transactional,” the company stated on 13 August in its second quarter financial results announcement.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes