Glyn Wall Ltd (GW) announces it has acquired the business of Sycamore Aviation Ltd (Sycamore), the aircraft dismantling business located at Durham Tees Valley Airport (DTVA).
The acquisition by GW brings to an end the previously reported uncertainty regarding the future of Sycamore, which had suffered impaired financial performance due to a lack of aircraft teardown orders through 2014.
Sycamore is fully operational and open for business, with a strong and sustainable plan for the future. It is expected that the original workforce will be reintegrated into the new team.
Further information will be provided as the business expands.
Durham Tees Valley Airport comment:
As our Master Plan for the future of the airport and the overall site development made clear, we believe that are substantial business opportunities for attracting aviation-related activities—including aircraft dismantling and recycling.
We are pleased that the business of Sycamore Aviation has now been acquired by Glyn Wall Ltd and look forward to working with the new company in taking forward their business plans.
By Sycamore Aviation
12th November 2014