GIMV sells FCS Control Systems

GIMV has entered into an agreement to sell its investment in Dutch company FCS Control Systems to Moog Inc, which is listed on the New York Stock Exchange. FCS Control Systems designs and manufactures high-fidelity electromechanical and electro hydraulic flight and vehicle simulation equipment, and structural test systems that are supplied to the aerospace and automotive markets.

FCS Control Systems was formed 27 years ago when a small group of engineers working for the Fokker Aircraft Company developed a technology for control loading systems used in flight training simulators. In 1999, the FCS engineers took their share of the private company in a management buyout. Halder (now GIMV) became a minority shareholder (25%) in 2002 in order to support FCS’ entry into associated markets.

No further announcement regarding the sale and its possible conclusion will be made until mid August.