Canadian investor group Oncap has completed its buy of avionics specialist BAE Systems Canada, renaming the business CMC Electronics. Inherited by BAE as Canadian Marconi after the UK giant's take-over of Marconi Electronic Systems, CMC has annual sales of around C$300 million ($190 million). Oncap, a C$400 million investment partnership, was established in December 1999 by diversified conglomerate Onex and various Canadian financial institutions. It plans to delist CMC from the Toronto Stock Exchange and New York's American Stock Exchange.
Source: Flight International
