Harris Completes Sale of its Aerostructures Business to Albany International
April 11, 2016 | Harris CorporationEstimated reading time: Less than a minute
Harris Corporation today completed the previously announced sale of its Aerostructures business to Albany International Corp. for an enterprise value of $210 million, including $187 million in cash at closing and the assumption of a $23 million capitalized lease. Proceeds from the transaction will be used to pay down debt.
The Aerostructures business was included in the company’s Electronic Systems segment and was acquired as part of Harris’ acquisition of Exelis in May 2015. The business had calendar 2015 revenue of $77 million and operated in two facilities in Salt Lake City, Utah.
About Harris Corporation
Harris Corporation is a leading technology innovator, solving our customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports customers in more than 125 countries, has approximately $8 billion in annual revenue and 22,000 employees worldwide. The company is organized into four business segments: Communication Systems, Space and Intelligence Systems, Electronic Systems, and Critical Networks.
Suggested Items
Micron First to Ship Critical Memory for AI Data Centers
05/01/2024 | MicronMicron Technology, Inc. announced it is leading the industry by validating and shipping its high-capacity monolithic 32Gb DRAM die-based 128GB DDR5 RDIMM memory in speeds up to 5,600 MT/s on all leading server platforms.
HQ NextPCB of HQ Electronics Debut on the International Stage for Electronics Manufacture at IPC APEX 2024
05/01/2024 | PRNewswireHQ NextPCB of HQ Electronics, a leading Chinese-based multilayer PCB manufacturer and assembly house showcased its industrial prowess on the international stage for the first time at the IPC APEX Expo 2024.
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.
The Knowledge Base: A CM’s Perspective on Box Build Practices
04/30/2024 | Mike Konrad -- Column: The Knowledge BaseIn the ever-evolving landscape of electronics manufacturing, the box-build process stands out as a critical phase that bridges the gap between individual component manufacturing and the delivery of a fully functional electronic system. This intricate procedure, encompassing the assembly of everything from PCBs to wire harnesses and mechanical enclosures, demands a high level of precision, efficiency, and innovation. As the electronics assembly industry expands and diversifies, understanding the best practices within box-build assembly has become paramount for manufacturers aiming to stay ahead in a competitive market.
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
04/26/2024 | Andy Shaughnessy, Design007 MagazineIn this week’s roundup, we have a variety of articles covering everything from design through assembly, and even box build. I’ve always wondered whether box build was all it was cracked up to be. Do customers really pick one EMS provider over another because one company offers box build? And if you’ve ever wanted to volunteer, IPC’s Thought Leaders Program is looking for a few good technologists to help them on their mission. Check out Stanton Rak’s article, which was published in the spring issue of IPC Community.