Boeing Buying California-based Encore Group
Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems.
Recently, it was confirmed that Boeing is purchasing the EnCore Group, a California based aerospace interiors company. This is the Boeing’s second deal in aircraft seats after it sealed a deal with Adient, an auto seat maker last year. EnCore currently designs provide components to Boeing along with the production of airplane galleys and seats for airlines. The purchase expected to close by Q2 2019.
This move is reportedly believed to be a boost in Boeings fight to beat supply chain delays and boost profit margins.
EnCore’s founder Jim Downey founded C&D Aerospace in 1972, growing the organization organically to a multinational, 4,000 employee, $400 million enterprise before selling the business in 2005. The other half of the EnCore ownership, Tom McFarland, joined forces with Jim in 1986 to help build the business and remained with C&D after the sale to continue the growth path to over 5,000 employees and $650 million in sales. Jim and Tom reunited in 2011 when they joined forces to “start again” with EnCore. Since then, they have secured long term agreements with OEMs as well as a range of airlines, and we have become a key player in the industry. They were striving to be not the biggest, but the best aircraft interiors manufacturer by building trust through repeatable, reliable performance.
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