31st Jul 2007 17:50
BAE SYSTEMS PLC31 July 2007 BAE Systems plc completes acquisition of Armor Holdings Inc. 31 July 2007 BAE Systems plc (BAE Systems) today completed its acquisition of Armor HoldingsInc. (Armor Holdings), after receiving all required regulatory approvals and theapproval of the transaction by the shareholders of Armor Holdings. BAE Systemsannounced it had entered into a definitive agreement to acquire Armor Holdingson 7 May 2007 in a transaction valued at $4,532 million (£2,275 million). Armor Holdings is a major manufacturer of tactical wheeled vehicles and aleading provider of vehicle and individual armour systems and survivabilitytechnologies for the military and adjacent law enforcement and commercialsecurity markets. Armor Holdings reported sales of $2,361 million in 2006 andemploys over 8,000 people in 63 locations throughout the US and internationalmarkets, including the UK. The acquisition is a significant step in the implementation of BAE Systems'strategy to develop as the premier global defence and aerospace company. Theacquisition expands the company's business in the United States and strengthensBAE Systems' position as one of the world's leading land systems businesses.The integration of Armor Holdings into the BAE Systems Land and Armamentsbusiness is expected to increase BAE Systems' US sales by more than $3 billionwith the addition of complementary revenue streams from several prioritytactical vehicle programmes. Issued by BAE Systems plc London This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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