Esterline to Acquire UK-Based Racal Acoustics, a Leading Provider of Ruggedized Military Communications Equipment
Company to Host Conference Call Tuesday at 11:00 a.m. Eastern Time
finance.yahoo.com
BELLEVUE, WA--(MARKET WIRE)--Dec 22, 2008 -- Esterline Corporation (NYSE:ESL) today announced an agreement to acquire UK-based Racal Acoustics, a leading provider of military communications equipment, from ECI Partners, a UK-based private equity group, for approximately GBP 115 million. Completion of the transaction is expected in 30 to 45 days, subject to certain governmental approvals and customary closing conditions. A conference call to discuss the transaction is scheduled for tomorrow morning, December 23, at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time). Listeners may access the conference call live over the Internet at the following location: esterline.com .
Racal is a premier designer and manufacturer of high-technology, ruggedized personal communications equipment, ranging from lightweight noise-reducing headsets to advanced battlefield secure telephone networks. Robert W. Cremin, Esterline's chief executive officer, said that the transaction "... complements Esterline's existing expertise in secure communications and other sophisticated equipment for combat troop support, and fits our stated strategy to seek out companies that expand our talent pool and capabilities." |
