1st Aug 2005 07:15
Cobham PLC01 August 2005 1 August 2005 COBHAM UPDATE: ACQUISITION AND DISPOSAL Acquisition of Microwave Development Company Cobham announces the acquisition of selected assets of the Microwave DevelopmentCompany (MDC) for a consideration of US$13.65m paid in cash. Based in Salem, NewHampshire, USA, MDC develops and manufactures microwave products primarily forthe US military market. Over the next six months it is intended that thebusiness and 53 of the 85 staff will transfer to Chelton's Continental Microwaveand Tool Co (CMT) located in Exeter, also in New Hampshire. Microwave products,vital to network centric warfare, are one of the faster growing sectors inaerospace and defence. The acquisition of MDC will boost Chelton's alreadysuccessful microwave business. Disposal of Cobham Fluid Systems Products Division Announced on 27 June this year, the disposal of the trade and assets of Cobham Fluid Systems Limited products division (part of Cobham's Aerospace Systems Group) to Meggitt PLC for a consideration of £8 million has now completed. Allan Cook, Chief Executive, Cobham, said, "These two transactions continue our stated objectives of focusing on our core business of aerospace and defence. The acquisition of MDC's assets expands Cobham's presence in the key microwave products marketplace." NOTES TO EDITOR Cobham plc - Cobham designs and manufactures equipment, specialised systems andcomponents supplied to the aerospace, defence, homeland security, search andrescue and communications markets and operates, modifies and maintains aircraftfor military training, special mission flight operations and outsourced freightand passenger services. Chelton - the Chelton Group has an extensive global presence with facilitiesextending into Europe, North America and South Africa. It is one of the world'sleading designers and suppliers of antennas, aircraft communication andnavigation equipment, microwave sub-systems, radomes and composite structuresfor the aerospace, defence, law enforcement and national security, search andrescue and communications markets. Cobham Fluid Systems products division, based in Blandford, Dorset, UK, was originally a small part of the business acquired from BAE Systems plc in 2000, the majority of which Cobham integrated into FR Hi-TEMP. The business has 52 employees and manufactures products for use in the treatment, and handling of specialist fluids and gases in respect of non airborne applications. ENQUIRIES Cobham plc Allan E Cook Telephone +44 (0) 1202 882 020Chief Executive or +44 (0) 7802 353 874 Warren Tucker Telephone +44 (0) 1202 882 020Group Financial Director or +44 (0) 7802 353 874 Weber Shandwick Square MileKirsty Raper, Director Telephone +44 (0) 207 067 0722 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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