Goodrich has sold its JcAir Test Systems business to automated test equipment manufacturer Aeroflex for $35 million in cash. New Century, Kansas-based JcAir, with 130 employees and sales last year of $24 million, produces avionics test equipment.
Goodrich expects an after-tax gain from the sale of around $13 million. Based in Plainview, New York, Aeroflex manufactures automatic test equipment for the aerospace, defence and broadband communications markets. The rapidly growing company had sales in its 2004 fiscal year of $414 million.
* Acquisitive US defence electronics company DRS Technologies has purchased signals-intelligence specialist Codem Systems for $29 million. Merrimack, New York-based Codem is expected to generate annual revenues of around $25 million.
Source: Flight International
