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Forgacs acquires precision engineering company Broens

Naval shipbuilder Forgacs has purchased Broens, a precision
engineering company that operates in the defence and aerospace markets.

The Australian Defence Magazine reports that Broens, a
subcontractor on the Lockheed Martin F-35 international program, will become a
wholly owned subsidiary of Forgacs.

“The acquisition is the first step in our diversification
strategy and creates a unique and very marketable mix of capabilities,” Forgacs
chief executive Mr Lindsay Stratton said of the purchase.

He added that Forgacs will now be able to diversify and its defence
offerings will now cover both shipbuilding and aerospace.

“We are widely recognised for our maritime offering through
naval shipbuilding and our through life support operations. Now we will also be involved with the land
and air aspects of defence,” Stratton said.

“This is an exciting and undoubtedly challenging opportunity
but we are very much looking forward to making it work.”

Broens was established in 1979 and currently employs
approximately 100 people at Ingleburn in New South Wales and at Elizabeth in
South Australia. Most of this workforce
is highly skilled.

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