Notable Mergers and Acquisitions of the Day 11/19: GD, ESL

November 19, 2008 9:42 AM EST

• General Dynamics (NYSE: GD) and The Carlyle Group have entered into a definitive agreement for General Dynamics to acquire AxleTech International, a global manufacturer and supplier of axles, axle components, planetary axles, independent suspensions, brakes and aftermarket parts for military vehicles, commercial specialty trucks, and off-highway machines used in the construction, material handling, forestry, mining and agricultural markets.
  
  AxleTech International employs approximately 1,000 workers worldwide. It is based in Troy, Michigan, and has manufacturing facilities in Oshkosh, Wisconsin; Detroit, Michigan; Chicago, Illinois; St. Etienne, France; and Osasco, Brazil.
  
  The proposed acquisition, which has been approved by both companies, would be immediately accretive to General Dynamics' earnings. The transaction is subject to normal regulatory approvals and is expected to close by the end of 2008. AxleTech International will become part of Charlotte, North Carolina-based General Dynamics Armament and Technical Products.
  
  
• Esterline Corporation (NYSE: ESL) announced an agreement to acquire NMC Group (Nylon Molding Corporation) for approximately $90 million. NMC is a designer and manufacturer of specialized fasteners for the aerospace/defense industry. Completion of the transaction is expected in 30 to 45 days, contingent upon Hart-Scott-Rodino approval and other customary closing conditions. Esterline will fund the acquisition with available cash.
  
  "Nylon Molding fits perfectly within our Advanced Materials segment, extending our product offering to include specialized plastic and composite-adhesive-bonded fasteners," said Robert W. Cremin, Esterline's chief executive officer. "The transaction also continues our strategy to consolidate manufacturers of superior aerospace systems and components," he said.

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions

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• The Carlyle Group
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