19th Dec 2007 10:11
BAE SYSTEMS PLC19 December 2007 19 December 2007 BAE SYSTEMS AGREES TO SELL SURVEILLANCE AND ATTACK BUSINESS BAE Systems today has signed a definitive agreement to sell its Surveillance andAttack business in Lansdale, Pennsylvania, to Sensor and Antenna Systems,Lansdale, Inc., a subsidiary of Cobham Defence Electronic Systems Corporation. The approximately 400 BAE Systems employees in Lansdale provide broadbandhigh-power transmitter and radio frequency front-end systems for militaryaircraft. The equipment is used for communications and radar jamming, and radarwarning. The $240 million cash transaction is expected to close in the first quarter of2008, following receipt of regulatory approvals. The sale is consistent with BAE Systems strategy to expand as a developer andintegrator of systems and de-emphasize its role as a subsystem provider. Issued by: BAE Systems London This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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