TI Group buys French aerospace seals firm

LONDON (Oct. 3)—TI Group P.L.C. has acquired French aerospace sealing company Impervia S.A. for $15.5 million, and will incorporate the firm into its Shamban aerospace sealing systems business unit. Based in Paris and Conde-sur-Noireau, France, Impervia is the second-largest manufacturer of aerospace seals in France, TI Group said, with sales expected to reach $8.5 million this year. TI Group—currently involved in a merger proposal with Smiths Industries P.L.C.—expects the acquisition to enhance earnings during the first full year of ownership. The addition of Impervia "will enable TI Group to enhance significantly its already strong position in the aerospace sealing market and capitalize on the growth opportunities within this sector," according to John Langston, chief executive of TI Group Specialty Polymer Products.