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BAE Systems Announces Agreement to Sell Composite Structures Business

Dépèche transmise le 24 mai 2011 par Business Wire

BAE Systems Announces Agreement to Sell Composite Structures Business

BREA, Calif.--(BUSINESS WIRE)--BAE Systems announced today that it has reached an agreement for the proposed sale of its Composite Structures business in Brea, California, to EnCore Composites Holdings, Inc.

“The decision to sell the Composite Structures business was made to better align the company’s strategic objectives and business portfolio”

“The decision to sell the Composite Structures business was made to better align the company’s strategic objectives and business portfolio,” said Frank Pope, President of BAE Systems Land & Armaments.

BAE Systems acquired the Composite Structures business through its purchase of United Defense in 2005. Composite Structures designs and manufactures complex, highly-engineered composite components and assemblies that are primarily used on commercial and defense aerospace platforms.

The proposed sale is expected to close during the second or third quarter of 2011.