MADRID - Aciturri Aeronáutica, the Burgos-based manufacturer of motor components, mechanisms and metallic structures for the aeronautical sector, has acquired 54.19% of the aeronautical components manufacturer Aries Complex from Aries Industrial y Naval (Ainsa) (32.80%) and Ibersuizas (21.39%), the company announced today, without disclosing the terms of the transaction.

Espírito Santo Investment advised the selling shareholders of Aries Complex, whereas 360 CORPORATE advised Aciturri on this transaction.

With this acquisition, the group from Burgos, owned by Caja de Burgos and the Clemente-Zárate family, consolidates its position as one of the leading aeronautical companies in Spain and one of Airbus España's main suppliers.

Aciturri's president, Ginés Clemente Ortiz, stated that "Aries Complex's superior image, as well as the quality and experience of its management team, united with Aciturri's current position and its complementary clients and programmes, will create a leading business enterprise in the aeronautical sector."

In turn, the director general of Aries Complex, Santiago Ruiz, commented that the incorporation of Aciturri to Aries Complex's shareholder group, together with the institutional support of partners such as Caja Duero and Castilla y León, "will strengthen the company's competitive positioning in the context of an unrelenting consolidation process in the European aeronautical industry."

Last summer Aries Complex was awarded an important contract for the design and manufacture of all of the components of the "vertical tail stabiliser" of Airbus' latest model, the A-350. In addition, the company is one of Boeing's exclusive suppliers of the B-737 model.