Business

January 22, 2014

Astronics to acquire EADS North America test, services division

Astronics Corporation, a leading provider of advanced technologies for the global aerospace and defense industries, announced Jan. 21 that it has entered into a definitive agreement to acquire substantially all of the assets and liabilities of EADS North America’s Test and Services division for approximately $53 million in cash plus a net working capital adjustment.

The agreement is expected to close in February, subject to normal closing requirements including Hart-Scott-Rodino approval. Upon closing, EADS T&S will be reported in Astronics’ Test Systems segment.

EADS T&S, located in Irvine, Calif., is a leading provider of highly engineered automatic test systems, subsystems and instruments for the semi-conductor, consumer electronics, commercial aerospace and defense industries. EADS T&S provides fully customized testing systems and support services for these markets. It also designs and manufactures test equipment under the well-respected test instrument brands known as Racal and Talon.

EADS T&S had 2013 sales of approximately $70 million. Sales for 2014 for the business are expected to be approximately $100 million., “EADS T&S has developed a strong presence in a diversified set of industries, which provides a broad range of market opportunities for growth,î said Peter J. Gudnermann, Astronics CEO. ìWe also believe that the business possesses a skill set which is highly complementary to our own, and together we will field a stronger team than either entity would do on their own.”

EADS T&S was founded in 1950 as Racal Electronic Group and currently has about 210 employees.




All of this week's top headlines to your email every Friday.


 
 

 
Virgin Galactic photograph

NTSB concludes SpaceShipTwo flight test accident investigation

Virgin Galactic photograph WhiteKnightTwo and the first SpaceShipTwo during a captive carry test flight over the Mojave Desert. MOJAVE, Calif.–The National Transportation Safety Board has concluded the investigation of th...
 
 

Headlines July 27, 2015

News: U.S.-Turkey deal aims to create de facto ‘safe zone’ in northwest Syria – Turkey and the United States have agreed on the outlines of a de facto “safe zone” along the Turkey-Syria border under the terms of a deal that is expected to significantly increase the scope and pace of the U.S.-led air war against...
 
 

News Briefs July 27, 2015

Putin OKs maritime code calling for strong Atlantic presence Russian President Vladimir Putin has approved a new version of the country’s maritime doctrine that calls for maintaining a strong Russian presence in the Atlantic Ocean amid concerns about NATO expansion. The doctrine, which covers naval, merchant marine and scientific maritime issues, also adds the Antarctic...
 

 
Army photograph by SFC Walter E. van Ochten

U.S., Ukraine, Romania, Bulgaria train together at Rapid Trident 2015

Army photograph by SFC Walter E. van Ochten U.S. soldiers, of the 3rd Platoon, 615th Military Police Company, 709th Military Police Battalion, react as they conduct reacting to contact training as part of their situational trai...
 
 
nasa-astronaut

Astronaut Stephen Frick retires from NASA

Astronaut Stephen Frick has retired from NASA to accept a position in the private sector. Frick, who flew as both a shuttle pilot and commander, left the Agency July 13. Steve has been a great asset to the astronaut office and ...
 
 
Army photograph by Sgt. Juana M. Nesbitt

Estonian, US forces receive new jump wings

Army photograph by Sgt. Juana M. Nesbitt Pvt. Kalmer Simohov, of Parnu, a volunteer with the Estonian Defense League, receives his U.S. Army Airborne wings following the joint airborne operations exercise at a drop zone in Nurm...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>