PARIS (Reuters) - France’s Eramet is close to a deal to sell Brown Europe, an alloys supplier to the aeronautics industry, to French investment fund Ace as it focuses on upstream mining activities, two people familiar with the matter said.
Based in southwest France, Brown Europe is a relatively small business, with annual sales of about 20 million euros ($24 million), but industry experts say the high-tech firm occupies a strategic position in France’s complex aerospace supply chain.
The sale of Brown Europe to Ace Capital Partners, formerly Ace Management, is expected to close next month, one of the people said.
It is being carried out separately from talks to sell a larger Eramet alloys subsidiary, Aubert & Duval, to a consortium also including Ace, partnered with aerospace giants Airbus and Safran.
Brown Europe specialises in wire-drawing, or reducing the cross-section of high-performance alloys used in aerospace.
France’s, Duval, Safran, Christel Bories, Eramet, Duval’s
PARIS, Brown, Ace Capital Partners, Ace Management, Airbus, Erasteel, France’s Rafale, Boeing, Electric, Tikehau
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