Hello, Guest!
  • Thursday, November 14, 2024

Albany International Closes $210M Purchase of Harris Aerostructures Business


AirplaneRochester, New Hampshire-based specialty materials processing company Albany International (NYSE: AIN) has wrapped up its acquisition of Harris Corp.‘s (NYSE: HRS) aerostructures business for approximately $210 million in cash and capital lease.

Harris said Friday it will use proceeds from the deal originally announced in late February to pay down corporate debt.

The business generated about $77 million in revenues during 2015 and was part of Melbourne, Florida-based communications technology manufacturer Harris’ electronic systems segment.

Harris inherited the aerostructures unit through its $4.75 billion acquisition of Exelis that closed in May 2015.

Video of the Day

Related Articles

Former L3Harris Finance Director Chris Fronk Becomes Chief Financial & Administrative Officer at TSS Solultions Executive Moves

Former L3Harris Finance Director Chris Fronk Becomes Chief Financial & Administrative Officer at TSS Solultions

Defense electronics supplier TSS Solutions has appointed Chris Fronk, former finance director at L3Harris Technologies (NYSE: LHX), as chief financial and administrative officer. He will be responsible for driving growth in TSS’ radar depot business and developing strategies to stimulate profitability in new product segments, such as frequency management systems for over-the-horizon radar technology, the

Kurt Bender Joins BWX Technologies as IT Director Executive Moves

Kurt Bender Joins BWX Technologies as IT Director

Kurt Bender, a 15-year information technology veteran in the aerospace and defense industries, has joined BWX Technologies (NYSE: BWXT) as director of IT. Bender announced his new role on a LinkedIn post Sunday and said he looks forward to driving digital transformation in the government and commercial sectors. He most recently served as senior director

Rob Cotton Promoted to Growth VP at SkyePoint Decisions Executive Moves

Rob Cotton Promoted to Growth VP at SkyePoint Decisions

Rob Cotton, director of federal civilian growth at SkyePoint Decisions, has been promoted to vice president of growth at the Dulles, Virginia-based cybersecurity company, according to a LinkedIn post published Tuesday. In his new capacity, Cotton leads a team of business development, capture and proposal professionals to identify new opportunities and partnerships. The three-decade government