Military technology manufacturer L-3 Communications has completed its acquisition of Northrop Grumman's Canadian navigation and space sensor business. L-3 Communications says the new company, L-3 Communications Electronic Systems, will add around $80 million to its sales in 2005, with customers including the Canadian armed forces, commercial airlines, and military and scientific agencies. The deal, worth around $65 million, will add slightly to earnings for the year, says L-3 Communications. The business has facilities in Toronto and Halifax and designs and develops electronic systems for aircraft and ground vehicles.
Source: Flight International