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Fri, Mar 16, 2007

Esterline Corporation Completes Acquisition Of CMC Electronics

CMC Will Operate As Stand-Alone Operation

CMC Electronics Inc. told ANN this week aerospace contractor Esterline Corporation of Bellevue, WA has completed the acquisition of the Canadian avionics manufacturer.

Esterline specializes in three core areas: avionics & controls; sensors & systems; and advanced materials. With the acquisition of CMC, Esterline now employs more than 9,000 employees, and operates 35 units in 11 states in the US, plus Canada, France, Germany, the UK and China.

"The transaction significantly expands the scale of Esterline's existing avionics & controls business by adding a premier systems integrator of high technology avionics," said Esterline CEO Robert W. Cremin. "CMC is a natural evolution following Esterline's successful performance as a Tier 1 supplier to Boeing for the 787 cockpit overhead panel system."

Cremin added, "CMC will continue to run as a stand-alone operation reporting through Esterline's avionics & controls segment. CMC brings us an experienced and proven management team and a strong engineering and technology base."

Jean-Pierre Mortreux, president and CEO, CMC Electronics, said: "We are very pleased with the conclusion of this transaction. Being part of the Esterline family will allow CMC to pursue its long-term strategy and provide additional opportunities for growth."

CMC Electronics designs, produces and supports leading technology electronics products, including flight management systems, enhanced vision systems, electronic flight bags, global positioning system receivers and satcom antennas for the aviation and global positioning markets.

FMI: www.esterline.com, www.cmcelectronics.ca

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