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.
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