27th Mar 2006 07:00
Cobham PLC27 March 2006 COBHAM COMPLETES DISPOSAL OF COUNTERMEASURES BUSINESS On 9 March 2006, Cobham plc (Cobham) announced the agreement to sell WallopDefence Systems Limited (WDSL) to Esterline Technologies Corporation. Cobhamannounces today that all necessary approvals have been received and the sale ofWDSL has been completed expeditiously. The maximum total consideration for WDSL is £43.75m in cash, of which £10m iscontingent upon the future performance of WDSL (the outcome of which is expectedto be finalised during 2006). Together with the previously completed sale of FR Countermeasures Inc, themaximum proceeds for the disposal of Cobham's countermeasures businesses are£49.85m, including the contingent element for WDSL. NOTES TO EDITORCobham plc - with five technology divisions and one in a service sector Cobhamdesigns and manufactures equipment, specialised systems and components for theaerospace, defence, communications, law enforcement and national securitymarkets and operates, maintains and modifies aircraft particularly in relationto special mission flight operations. ENQUIRIESCobham plc +44 (0) 1202 882020Allan Cook, Chief ExecutiveWarren Tucker, Group Financial Director Weber Shandwick Square Mile +44 (0) 20 7067 0700Helen Thomas/Kirsty Raper This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Cobham