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© pichetw dreamstime.com_hand pushing information button on touch screen Electronics Production | April 11, 2016

Harris Corporation completes sale of its aerostructures business

Harris Corporation has completed the previously reported sale of its Aerostructures business to Albany International Corp.
Harris sold the business for an enterprise value of USD 210 million, including USD 187 million in cash at closing and the assumption of a USD 23 million capitalized lease

The Aerostructures business was included in the company’s Electronic Systems segment and was acquired as part of Harris’ acquisition of Exelis in May 2015. The business had calendar 2015 revenue of USD 77 million and operated in two facilities in Salt Lake City, Utah.

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