Featured Company News JBT Set to Acquire AMSS, a Leading Milita - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Featured Company News JBT Set to Acquire AMSS, a Leading Military Aviation Equipment Manufacturer

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LONDON, UK / ACCESSWIRE / June 19, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for John Bean Technologies Corp. (NYSE: JBT) (“JBT”). The Company announced on June 16, 2017, that it has signed a definitive agreement to acquire the Aircraft Maintenance Support Services (AMSS), which is one of the Europe’s largest support services recognized as a leader in the aviation industry. The deal will be executed with a purchase price of £10 million before customary post-closing adjustments and is expected to close during Q3 FY17. For immediate access to our complimentary reports, including today’s coverage, register for free now at:


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About the Acquisition

This acquisition is viewed as a global, joint marketing, and co-manufacturing agreement for selected products that will be used for military aircraft ground support activities. JBT and AMSS will put forward complementary products of each other in their respective markets, initially.

JBT is a leading global technology solutions provider to high-value segments of the food processing and air transportation industries. The Company operates through its multiple segments and delivers products across three particular portfolios, including: food processing products, automated guided vehicle products, and air transportation products. The Company operates through collaborative efforts of a culturally diverse group of people working across the globe, including about 5,100 employees, worldwide, operating sales, services, manufacturing, and sourcing operations in more than 25 countries.

The partnership is set to enhance military offerings and expand JBT’s reach to foreign militaries. Post this acquisition, JBT’s annual revenue is expected to increase by about $20 million, where net annual revenue for FY15 stood at $1.4 billion. Through the execution of this agreement, JBT targets to reach varied military customers through a broad range of ground support equipment which is capable of fulfilling needs like conditioned air, high-pressure air, and electrical power for the NATO fighters, trainers, cargos, naval, and specialty military aircraft.

In order to improve customer service, JBT also encourages joint selling efforts depending on customer needs. It also plans to manufacture certain key products regionally and enhance their design to meet the local requirements.

Strategic Benefits from the Agreement

JBT views this transaction as a step complementary to its AeroTech segment where JBT AeroTech designs, manufactures, tests, and provides services for technical systems and products. It also sells critical equipment and services to domestic and international air transportation. The segment has incorporated ground support equipment for cargo loading, aircraft towing, gate equipment for passenger boarding, military equipment for cargo loading, and on-the-ground aircraft cooling system under its unique product portfolio.

JBT and AMSS will introduce a wide range of air-transportable, military air cargo loaders with the potential of moving three to six pallets of cargo together. Combining AMSS’s extensive market knowledge and JBT’s broadened support capabilities, this agreement will enable the development of an innovative product line, and support the military infrastructure for the customers and the nation.

Previous Deals in Aviation Industry

JBT, a global technology solutions provider to the air transportation industries, holds years of experience and a worldwide presence across North America, Asia/Pacific, Europe, Africa, Middle-East, and South America. The Company delivers leading technology solutions, through a diverse portfolio of products and looks forward to revolutionize the aviation industry.

On August 19, 2013, JBT AeroTech announced that it has been awarded a five-year airport services contract at the Raleigh-Durham International Airport (RDU) where the Company expected to generate approximately $9 million in revenue during the term. JBT AeroTech provided comprehensive maintenance and repair services for the gate and baggage handling equipment at RDU. The contract also included the integration and utilization of JBT AeroTech’s Intelligent Operations Performance System, a unique patented system that provides improved airport operational efficiency through real-time monitoring, coordination of gate, and ground support equipment.

On September 05, 2014, JBT announced that it was awarded contracts from a US based customer with a combined value exceeding $5 million to supply compressed air, air conditioning, and electrical power carts designed to service the environmental control systems and avionics of fighter aircraft. JBT believes that each military order presents unique engineering challenges which allow it to significantly expand its technical leadership in the conditioned air and power markets.

Last Close Stock Review

John Bean Technologies’ share price finished last Friday’s trading session at $91.25, rising 1.50%. A total volume of 241.86 thousand shares have exchanged hands, which was higher than the 3-month average volume of 203.24 thousand shares. The Company’s stock price soared 2.47% in the last three months, 6.79% in the past six months, and 47.77% in the previous twelve months. Additionally, the stock gained 6.17% since the start of the year. Shares of the Company have a PE ratio of 33.97 and have a dividend yield of 0.44%. The stock currently has a market cap of $2.84 billion.

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