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Electronics Production | August 20, 2008

Filtronic completes sale of Defence Electronics business

Filtronic has completed the sale of its Defence Electronics business to Teledyne.
As reported earlier, Filtronics entered into a definite agreement with Teledyne to sell is Defence Electronics business unit. The sale of the Defence Electronics business to Teledyne has been completed. The gross consideration received is a cash payment of £13.0 million (subject to the repayment by Filtronic of intra-group debt) and is subject to a working capital adjustment.

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