24th Apr 2007 11:31
BAE SYSTEMS PLC24 April 2007 BAE Systems agrees sale of INERTIAL PRODUCTS 24 April 2007 BAE Systems has agreed the sale of its Inertial Products business to investmentaffiliates of J. F. Lehman & Company, the U.S. 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, and BAE Systems' inertial products business in Plymouth,U.K., (including its 50% shareholding in Silicon Sensing Systems Limited). Inertial Products supplies to military and commercial customers inertial sensorsand measurement units for the control, navigation and guidance of air and groundvehicles, precision weapons systems, missiles and aerial targets as well asdigital terrain systems for aircraft. The business employs approximately 810people. Completion of the sale is conditional upon, among other things, regulatoryapproval being given and is expected to take place in the second half of 2007. Issued byBAE Systems plcLondon This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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