Esterline finalizes acquisition of CMC Electronics
BELLEVUE, Wash., 16 March 2007. Esterline Corporation executives have completed the acquisition of Canada-based CMC Electronics Inc., an aerospace/defense avionics company, for approximately $335 million in cash.
BELLEVUE, Wash., 16 March 2007.Esterline Corporation executives have completed the acquisition of Canada-based CMC Electronics Inc., an aerospace/defense avionics company, for approximately $335 million in cash.
CMC expands the scale of Esterline's existing Avionics & Controls business by adding a premier systems integrator of high-technology avionics, says Robert W. Cremin, Esterline's chief executive officer. "[CMC] is a natural evolution following Esterline's successful performance as a Tier I supplier to Boeing for the 787 cockpit Overhead Panel System."
CMC designs, manufactures, sells, and supports high-technology electronics products for aviation including global positioning, enhanced vision, and flight management systems. The company employs more than 1,100 people, including more than 400 engineers, at its principal locations in Montreal, Ottawa, and Chicago.
With CMC, Esterline now employs more than 9,000 people around the world. Cremin said that CMC will continue to run as a stand-alone operation reporting through Esterline's Avionics & Controls segment.