Vought Aircraft Holdings, Inc. filed late Friday to come public via an IPO in a securities sale of up to $250 million. Vought will take the proposed ticker of "VTC" on the NYSE.
The underwriting group is listed as LEHMAN BROTHERS, GOLDMAN SACHS, and JPMORGAN.
Vought is a global manufacturer of aerostructure products for commercial, military and business jet aircraft. It develops and manufactures fuselages, wing and tail assemblies, engine nacelles, flight control surfaces, and helicopter cabins. Its customer base consists of Airbus, Bell Helicopter, Boeing, Cessna, Gulfstream, Hawker Beechcraft, Lockheed Martin, Northrop Grumman, Sikorsky, and the U.S. Air Force.
It broke down the percentage of sales for 2007 as follows:
- commercial 49%,
- military 33%,
- and business jets 18%.
From 2005 to 2007, its revenue grew at a compound annual growth rate of approximately 12% to $1.625 Billion for the year ended December 31, 2007. It also lists backlog as $3.4 billion at December 31, 2007 and $3.9 billion at March 30, 2008.
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Jon C. Ogg
May 19, 2008
Jon Ogg produces and edits the "10 Stocks Under $10" newsletter and he does not own securities in the companies he covers.