13th Apr 2006 07:00
Cobham PLC13 April 2006 Cobham Ref 163 COBHAM COMPLETES DISPOSAL OF PRECISION ANTENNAS LIMITED On 9 March 2006, Cobham plc (Cobham) announced that discussions were in progressto sell Precision Antennas Limited (PAL). Cobham is pleased to announce that ithas sold PAL to Andrew Corporation (Andrew) of the United States for a totalconsideration of £15 million in cash plus an adjustment for working capital, ona debt and cash free basis. PAL had sales in the year ended 31 December 2005 of£26 million. PAL operates from three manufacturing sites in Stratford, England with 500employees and produces telecommunication antennas for use in commercial mobiletelephone base stations, and couplers and earth station antennas. Allan Cook, Cobham Chief Executive, said:"Precision Antennas is a good business which has grown rapidly since it wasacquired by Cobham. The sale of this company is another milestone in theimplementation of our strategic plan to focus on the high technology segments ofthe aerospace and defence market." NOTES TO EDITORCobham plc is an international company engaged in the development, delivery andsupport of advanced aerospace and defence systems in the air, on land, at seaand in space. The company has five technology divisions and one service divisionthat collectively specialise in the provision of components, subsystems andservices that keep people safe, improve communications and enhance theperformance of platforms. ENQUIRIESCobham plc +44 (0)1202 882020Allan Cook, Chief ExecutiveWarren Tucker, Group Financial Director Weber Shandwick Square Mile +44 (0) 20 7067 0746Helen Thomas This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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