Curtiss-Wright subsidiary acquires Indal Technologies for $78 million
On March 1, 2005, Novar plc sold Indal Technologies Inc. to a subsidiary of Curtiss-Wright Corp. for a purchase price of approximately $78 million. Indal Technologies is a leading producer of shipboard helicopter landing systems and airport passenger bridge systems. Novar is a diversified public UK company. Curtiss-Wright is a public US company, which provides motion control products, subsystems and services in the aerospace and defence markets.
Curtiss-Wright was represented by in-house counsel Robert Shaw. Ross Gascho of Fasken Martineau acted as Canadian pension counsel.