(Wha' hoppen to all the posters here?)Here's a newslink from LLL's website re: their recent acquisition and divestiture. Looks like they're trimming their sails for the elsewhere-commented opinion that U.S. defense spending will be down in future. http://www.l-3com.com/news-events/pressrelease.aspx?releaseI..."NEW YORK, Jan 10, 2011 (BUSINESS WIRE) -- L-3 Communications (NYSE: LLL) announced today that it acquired FUNA International, GmbH (FUNA) on December 22, 2010. The terms of the transaction were not disclosed. The business will be included in the Marine & Power Systems Group within L-3's Electronic Systems segment.Headquartered in Germany, FUNA is a leading supplier of control and safety systems, communication systems and entertainment solutions for cruise ships, ferries and mega yachts. FUNA's fire detection and suppression systems are also used in offshore wind turbines. FUNA is expected to generate approximately $60 million of sales for the year ending December 31, 2011 and to be immediately accretive to L-3's earnings."The addition of FUNA creates significant opportunities for revenue synergies by expanding the portfolio of products we offer our Marine & Power Systems customers and by increasing our customer base," said Robert E. Leskow, president of L-3's Marine & Power Systems. "FUNA is known for providing high quality solutions to its customers and expands our offering for complex passenger vessels. FUNA also provides fire safety and suppression systems for offshore wind turbines, fitting well with our strategy to grow business in the offshore wind energy segment."Separately, L-3 also announced the divestiture of its InfraredVision Technology Corporation business on December 17, 2010. InfraredVision Technology Corporation, based in Buellton, Calif., is a commercial OEM manufacturer of camera subassemblies. L-3 continually evaluates the strategic and financial performance of its business units and, from time to time, may consider further divestitures of non-core businesses as L-3 seeks to drive growth and operating efficiencies across the company. "There you have it, people --Fool On!frogfarm
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by M