NEW YORK CITY, N.Y., 3 March 2005. L-3 Communications announced today that it had completed the acquisition of the Propulsion Systems business unit of General Dynamics on February 25, 2005.
The new company, renamed L-3 Communications - Combat Propulsion Systems, is expected to generate approximately $125 million in sales for L-3 during the remainder of 2005 and be accretive to L-3's results of operations.
Headquartered in Muskegon, Mich., the acquired business is a recognized market leader in the engineering, design and manufacture of engines, transmissions, suspension and turret drive systems for combat vehicles, including both tracked and wheeled vehicles. The business is also a production center for Abrams tank components and supports both domestic and international vehicle customers, including programs for Singapore and South Korea.
The acquired business has had a 40-year tradition as a major player in the military land systems market and has had an historical and continued presence on strong programs in core areas, including the Bradley, Abrams and the Expeditionary Fighting Vehicle (EFV). It has a large installed customer base of approximately 30,000 vehicles worldwide. The company's advanced gun and turret drive systems components are used on such programs as the Stryker Mobile Gun System (MGS), the Opposing Force Surrogate Vehicle and the Avenger Air Defense System. Additionally, the business is developing upgrades as part of the spiral performance improvements for U.S. Army transformation.
Headquartered in New York City, L-3 Communications is a leading provider of Intelligence, Surveillance and Reconnaissance (ISR) systems, secure communications systems, aircraft modernization, training and government services and is a merchant supplier of a broad array of high technology products. Its customers include the Department of Defense, Department of Homeland Security, selected U.S. Government intelligence agencies and aerospace prime contractors. For more information, see www.L-3Com.com.
