Esterline completes acquisition of CMC Electronics
Mar 15, 2007
Esterline Corporation (NYSE: ESL) (www.esterline.com) announced that it completed the acquisition of Canada-based CMC Electronics Inc., a leading aerospace/defense avionics company, for approximately $335 million in cash.
Robert W. Cremin, Esterline's chief executive officer, said that CMC significantly expands the scale of Esterline's existing Avionics & Controls business by adding a premier systems integrator of high technology avionics. He said, CMC "...is a natural evolution following Esterline's successful performance as a Tier I supplier to Boeing for the 787 cockpit Overhead Panel System."