L-3 Aims To Buy Northrop Grumman's Canadian Navigation and Space Sensors Business

SPACEWAR

An F/A-18

New York NY (SPX) Oct 14, 2004
L-3 Communications announced today that it has entered into an agreement to acquire Northrop Grumman's Canadian navigation systems and space sensors system division business for approximately U.S. $65 million, payable in cash.

The acquisition is subject to regulatory approval, and is expected to be completed by the end of 2004. The acquisition is expected to contribute approximately U.S. $80 million to L-3's sales in 2005 and be slightly accretive to L-3's earnings.

With facilities in Toronto and Halifax, the business to be acquired 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, military and scientific agencies.

"The business to be acquired has a large installed base and a solid position in Canada," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "That base should continue to deliver growth into the future.

The company also participates in key military asset programs, including the F/A-18 Canadian/Australian aircraft and the CP-140 Maritime Helicopter Program, and is well positioned for systems support programs."

"The business to be acquired is very synergistic with L-3 and broadens our product base in the key nations of Canada and the U.S.," continued Mr. Lanza. "The acquisition provides us with additional capabilities to our existing cockpit display and control products that will enhance our position in both Canada and globally.

"In addition, there are significant synergies with L-3's Canadian operations and maintenance (O&M) operations, which include Spar Aerospace, MAS and Wescam, expanding existing products and value added services to such additional platforms as the F/A-18 Canadian/Australian aircraft and the CP-140 Maritime Helicopter Program, as well as the Apache helicopter, C-17, F-16, F-2."

Mr. Lanza noted that the business to be acquired has made significant progress in developing the Electronically Controlled Active Suspension System (ECASS), which dramatically improves the maneuvering and cross-country performance of wheeled and tracked vehicles.

This suspension system creates stability for highly mobile platforms so that weapons can be fired and both troops and vital supplies can be transported to the front lines. ECASS could have a role in U.S. combat vehicles as the U.S. Army continues its work on the Future Combat System (FCS).

SPACEWAR

Space Squadron Stands Down As Back Up For British Satellites

Schriever AFB CO (AFPN) Oct 14, 2004
After 14 years of the United States working with their British allies to operate what's been called, the "United Kingdom's most important strategic asset," the 3rd Space Operations Squadron relinquished the back-up control of the NATO IV and Skynet 4 satellite constellations in a ceremony here late last month.

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