Esterline Corp. Also Caters To Defense Industry

Representatives with CMC Electronics Inc. told ANN Thursday an agreement has been reached regarding the company's acquisition by Esterline Corporation of Bellevue, WA.

With approximately 8,000 employees, Esterline is a worldwide supplier to the aerospace and defense industry, and specializes in three core areas: avionics & controls; sensors & systems; and advanced materials. It operates 34 units in 11 states in the US, plus France, Germany, the UK and China.

Completion of the transaction is expected in approximately two month's time, contingent on customary closing conditions. 

"The transaction significantly expands the scale of Esterline's existing Avionics & Controls business and fits our stated strategy to consolidate manufacturers of superior aerospace systems and components," said Esterline CEO Robert W. Cremin. "This is a great acquisition for us and our customers. CMC is a premier systems integrator of high technology avionics and is a natural evolution following our successful performance as a Tier I supplier to Boeing for the 787 cockpit Overhead Panel System."

Cremin added the transaction "...takes us a long way in adding to the tool kit of solutions that we are assembling for our avionics customers. And, it is in line with requests from those customers that we expand the value added products and services we bring to them."

"We are delighted that Esterline has chosen to acquire CMC Electronics and welcome this very positive development for our company," said CMC president and CEO Jean-Pierre Mortreux. "The transaction, we believe, will reinforce our business strategy and provide significant opportunities for continued growth and success. We believe that CMC and Esterline are well positioned to build on the complementary strengths and opportunities in our business areas."

CMC Electronics designs and produces a variety of aviation-geared electronics, including Flight Management Systems, Enhanced Vision Systems, Electronic Flight Bags (shown above) and satcom antennas for the aviation and global positioning markets. The company's primary focus is delivering innovative cockpit systems integration and avionics solutions to its customers worldwide.

CMC's principal locations are in Montreal, Quebec; Ottawa, Ontario; and Chicago, IL. The company has been designing and building innovative electronics systems since 1902.

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