Harris to sell aerostructures business
Harris has signed a definitive agreement for the sale of its aerostructures business to Albany International for $210 million, Harris announced on 29 February.
The $210 million value includes $187 million in cash at closing and the assumption of a $23 million capitalised lease. The transaction, which is subject to customary closing conditions and regulatory review, is expected to close by first quarter or early second quarter of 2016.
Harris’ aerostructures business forms a part of its electronic systems segment. The company acquired the aerostructures business as part of its acquisition of Exelis in May 2015. The business, which operates in two facilities in Salt Lake City, Utah, designs, manufactures and assembles advanced composite structures such as rotor blades, wings, tanks and airframes for military and commercial aircraft.
William Brown, chairman, president and chief executive officer, Harris, said: ‘The sale of aerostructures reflects our strategy to optimise our business portfolio. Proceeds from the transaction will be used to pay down debt.’
More from Defence Notes
-
![UK urged to prioritise sea, air and space over heavy armour]()
UK urged to prioritise sea, air and space over heavy armour
A report from the Council on Geostrategy argues the UK should move away from a traditional balanced force and shift investment to naval, air and space capabilities, backed by a larger fleet of attack submarines and deeper AUKUS integration.
-
![Orchestrating operational readiness across every defence domain]()
Orchestrating operational readiness across every defence domain
Are all systems ready for the next mission? Have upgrades been applied? Are all assets aligned to deploy together, on time and fully prepared? In modern defence operations, readiness is no longer measured platform by platform. It is measured by how well people, assets, data and decisions move together — across land, sea and air.
-
![Global tensions drive defence supply chain scrutiny]()
Global tensions drive defence supply chain scrutiny
Governments worldwide are scrambling to decouple defence supply chains from dependency upon strategic rivals, but countries could struggle to do it all themselves.
-
![How deepening AI usage can boost efficiency and maximise effects for forces]()
How deepening AI usage can boost efficiency and maximise effects for forces
Saab has outlined how it is using artificial intelligence to make training more like electronic gaming, while the UK’s Power Size Technologies is applying the same technology to better evaluate and design vehicle capability, moving AI-enabled innovation further upstream from the frontline.
-
![From systems integrator to multi-domain solutions provider (video)]()
From systems integrator to multi-domain solutions provider (video)
Philipp von Brandenstein, Head of Corporate Communications at Rheinmetall, explains how Eurosatory 2026 marked a new stage in the company's evolution.
