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L-3 Acquires Canadian Navigation Systems and Space Sensors System L-3 Communications announced Wednesday that on December 30, 2004 it completed the acquisition of Northrop Grumman's Canadian navigation systems and space sensors system business. The new company, renamed L-3 Communications Electronic Systems, is expected to contribute approximately $80 million to L-3's sales in 2005 and be slightly accretive to L-3's earnings. With facilities in Toronto and Halifax, Canada, the acquired business is a leader in the design, development and integration of electronic products and systems for aviation and ground vehicles, primarily in Canada and the United States. The business specializes in aircraft navigation systems and products, military grade displays, vehicle electronics and systems support services for a variety of defense electronics and weapons programs. The business' client base includes the Canadian Armed Forces, commercial airlines and military and scientific agencies. The new subsidiary will be part of the L-3 Communications Canada Group and will report to Anthony Caputo, corporate vice president and president, L-3 Communications Canada. |
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