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Moog chairman and CEO John Scannell was named 2019 Buffalo Niagara Executive of the Year, by the University at Buffalo School of Management. Scannell was named CEO of the Elma-based aerospace manufacturer in 2011, and added the duties of chairman in 2014. UB said Scannell is recognized as "a humble, quiet leader who brings diverse stakeholders together and has helped pr…

Amherst

The elation in Wheatfield arrived with a note of caution. A half-century ago this weekend, legions of skilled workers from the old Bell Textron plant could rejoice at playing a direct role in helping America put a man on the moon. That sense of triumph had to be kept in check. Those workers understood, through the work done by their own hands, why the make-or-break mome…

Business

Moog Inc. sees strong results coming next year. The Elma-based maker of motion control equipment recently wrapped up its 2018 fiscal year, and on Friday it provided an outlook for its 2019 results. Moog forecasts a 6 percent increase in sales, to $2.9 billion, and full-year earnings per share of $5.25. Moog expects growth from across its businesses – aircraft control…

Business

The steel framework is up for an expansion at Moog Inc.'s Elma campus, a project fueled by the company's work for the U.S. military's F-35 Joint Strike Fighter. "It's starting to look like a real building," said John Scannell, Moog's chairman and CEO. The Elma-based maker of motion control equipment expects to complete the $32.6 million expansion early next year. …

Business

Moog Inc. will receive $1.6 million from the New York Power Authority to support a project in Niagara County. The Elma-based aerospace manufacturer is undertaking a $26 million expansion of its Wheatfield facility, a test facility for space propulsion. The project is expected to create 50 jobs and retain another 50 jobs. Moog has also committed to retain 50 jobs at its …

Business

Moog Inc. has agreed to buy a Czech Republic company for $65 million. Moog plans to acquire VUES, which designs and makes customized electric motors and generators. The company generated 2017 sales of about $37 million. "This business aligns with our core business model of delivering a competitive advantage to our customers by providing custom motion control solution…

Business

Moog Inc. took a big tax hit in the first quarter, but expects the federal tax overhaul to benefit the company in the long run. As a result, the Elma aerospace company recorded first-quarter profits of only $1.3 million. Moog's profits of $47.8 million were mostly offset by $46.5 million in income taxes. A year ago, Moog reported profits of $30.6 million, after recordin…