MOOG - Hydrolux

Moog Inc. announced the conclusion of a letter of intent to acquire a 75% shareholding in Hydrolux, SARL, a Luxembourg designer and manufacturer of hydraulic power control systems for industrial machinery, particularly injection molding machines. Hydrolux revenues were about $20 million for the last twelve months. Moog is acquiring the shares from Paul Wurth, a Luxembourg-based engineering company providing equipment and systems for the iron and steel industry. Paul Wurth will retain a 25% shareholding.

Two years ago, Moog formed a Joint Venture with Hydrolux to serve the North American market. This jointly-owned company, Moog-Hydrolux Hydraulic Systems, is located in East Aurora, NY and has revenues of $7 million per year. As part of the current transaction, Moog and Paul Wurth will own the same percentage of both Hydrolux and Moog-Hydrolux Hydraulic Systems.

``Hydrolux has developed an excellent base of industrial technology which fits perfectly with what we’re doing at Moog,`` said R. T. Brady, Chairman and CEO. ``Strengthening this partnership will enable us to provide more complete systems’ packages to major machinery makers.``

Moog Inc. is a worldwide manufacturer of precision control components and systems. Moog’s high-performance actuation products control commercial and military aircraft, satellites and space vehicles, launch vehicles, missiles and automated industrial machinery.