Avion Systems in negotiations to take over Turbomecanica

Israeli group Avion Systems, which operates in the aeronautical industry, is in negotiations to take over aeronautical components manufacturer Turbomecanica Bucuresti (TMB). “We are holding negotiations with Turbomecanica representatives, but we have not yet reached an agreement”, Ron Saver, chairman of Avion Systems, told ZF. However, he did not wish to provide any further details on the matter. According to market sources, the main shareholders of Turbomecanica Bucuresti are looking for buyers for a 51% stake. Turbomecanica’s capitalisation now stands at 51 million euros, although the value of the transaction could eventually exceed 25 million euros. The main shareholders are Radu Viehmann, the current general manager of the company, who holds 25.87% of shares, and the heirs of the former general manager Serban Ioan Ciorapciu, who control around 24.25% shares.