Elbit Systems Reorganizes UK Activities
January 10, 2022 | PRNewswireEstimated reading time: Less than a minute
Elbit Systems Ltd. announced that its UK subsidiary, Elbit Systems UK Ltd., has sold the Power and Control Business of its subsidiary Ferranti Technologies Ltd., to TT Electronics (UK) Plc. for approximately $12 million (approximately £9 million) in cash, subject to customary post-completion working capital adjustments.
The remaining business of Ferranti, including training and simulation, avionics, display systems, aircrew survival systems, platform protection and computing, are planned to be integrated into Elbit Systems UK.
Martin Fausset, CEO of Elbit Systems UK, said: "This reorganization is part of our strategy to focus activities on certain areas in order to support the continuous expansion of our operations and collaborations in the UK."
Suggested Items
SCHWEIZER Announces Preliminary Group Figures for 2023 Financial Year
03/27/2024 | Schweizer Electronic AGThe preliminary and unaudited results of the SCHWEIZER Group confirm the major and successfully completed turnaround in 2023. Sales rose to a record of EUR 139.4 million, exceeding expectations with an increase of 6.4 percent.
LPKF Reports Strategic Successes and Narrowly Achieves Forecast for 2023 Financial Year
03/26/2024 | LPKFLPKF Laser & Electronics SE generated revenue of EUR 124.3 million in the financial year (previous year: EUR 123.7 million) and earnings before interest and tax (EBIT) of EUR 3.7 million (previous year: EUR 6.8 million), putting the EBIT margin at 3.0% (previous year: 5.5%).
Nortech Systems Reports Q4, FY 2023 Results; Full Year Net Sales Up Nearly 4% from Prior Year;
03/21/2024 | BUSINESS WIRENortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, industrial and defense markets, reported 2023 fourth quarter and full year results for the period ended December 31, 2023.
National Security Contracts Secured by SAIC Top $284 Million in Early 2024
03/18/2024 | SAICScience Applications International Corp. announced it received $284 million in awards from the United States intelligence community in January and February of 2024.
Jabil Posts Second Quarter Results
03/18/2024 | Jabil“Despite revenue headwinds this year, which are expected to be short-term, I’m pleased with the resiliency of our model and our team’s demonstrated ability to execute,” said CEO Kenny Wilson. “Even under these conditions, we expect to deliver strong core operating margins and free cash flow in FY24,” he added.