24th May 2011 16:45
BAE Systems to sell Composite Structures business in Brea, California
24 May 2011
BAE Systems has announced an agreement for the sale of its Composite Structures business in Brea, California to EnCore Composites Holdings, Inc., for cash consideration of approximately $32.5 million. The Brea, California facility employs approximately 170 people who are focused on the design and manufacture of complex, highly-engineered composite components and assemblies that are primarily used on commercial and defense aerospace platforms.
The proposed sale of the Composite Structures business is expected to close during the second or third quarter of 2011.
Issued by:
BAE Systems plc
London
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