© Elbit Systems
Elbit sells its Power and Control business in the UK
Elbit Systems says that its UK subsidiary, Elbit Systems UK, has sold the Power and Control Business of its subsidiary Ferranti Technologies, to TT Electronics for approximately USD 12 million in cash.
The remaining business of Ferranti, including training and simulation, avionics, display systems, aircrew survival systems, platform protection and computing, will be integrated into Elbit Systems UK. "This reorganization is part of our strategy to focus activities on certain areas in order to support the continuous expansion of our operations and collaborations in the UK," says Martin Fausset, CEO of Elbit Systems UK, in a press release from the company. Ferranti Power and Control, which is based in Greater Manchester, designs and manufactures mission-critical complex power and control sub-assemblies for blue chip customers in high-reliability and high-performance end markets, primarily aerospace and defence. O The acquisition will adds further technology capability, IP and scale to TT's Power Solutions business, which is one of the company's focus areas for structural growth.