Esterline to Acquire CMC Electronics

Esterline Corporation has agreed to acquire CMC Electronics for approximately $335 million in cash.  The transaction is expected to be completed in 30 to 45 days, pending governmental approvals.

CMC is a major manufacturer of avionics products including GPS receivers, head-up displays, enhanced vision systems, electronic flight bags and flight management systems.  Its principal locations are in Montreal and Chicago.

Esterline is a specialized manufacturing company, headquartered in Bellevue, Washington (near Seattle), that principally serves aerospace, defense and medical markets. It views its core competencies as advanced materials, avionics and controls, and sensors and systems.

Robert W. Cremin, Esterline's chief executive officer, said the transaction significantly expands the scale of Esterline's existing avionics and controls business and fits his company's strategy to consolidate manufacturers in this business area.  02-06-2007.

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