20th Aug 2007 15:50
BAE SYSTEMS PLC20 August 2007 BAE Systems agrees to the sale of its Inertial Products business 20 August 2007 Further to the announcement on 24 April 2007, BAE Systems today announces thecompletion of the sale of its Inertial Products business to investmentaffiliates of J .F. Lehman & Company, the US private equity firm, for a cashconsideration of $140m, subject to adjustment according to the level of workingcapital and net debt or net cash in the business at closing. The business is comprised of BAE Systems Inertial Products Inc., based inCheshire, Connecticut, Heath, Ohio, Wayne, New Jersey and BAE Systems InertialProducts business in Plymouth, UK (including its 50% shareholding in SiliconSensing Systems Limited). Inertial Products supplies military and commercial customers with inertialsensors and measurement units for the control, navigation and guidance of airand ground vehicles, precision weapons systems, missiles and aerial targets aswell as digital terrain systems for aircraft.The business employs approximately 810 people. Issued byBAE Systems plcLondon This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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