Elbit Systems Ltd. ("Elbit Systems" or the "Company") announced that its UK subsidiary, Elbit Systems UK Ltd. ("Elbit Systems UK"), has sold the Power and Control Business of its subsidiary Ferranti Technologies Ltd. ("Ferranti"), to TT Electronics (UK) Plc. for approximately $12 million (approximately £9 million) in cash, subject to customary post-completion working capital adjustments.
The remaining business of Ferranti, including training and simulation, avionics, display systems, aircrew survival systems, platform protection and computing, are planned to be integrated into Elbit Systems UK.
Martin Fausset, CEO of Elbit Systems UK, said: "This reorganisation 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."
Elbit Systems UK has three wholly owned subsidiaries and two joint ventures, employing over 600 personnel in the UK. The two joint ventures were formed in order to deliver the Watchkeeper program for the British Army and to supply and support three fleets of aircraft for the Royal Air Force within the UK MOD Military Flying Training System (UKMFTS) program. Additionally, Elbit Systems UK supplies the UK MOD with major defence programs, including the Royal Navy's "Selborne" future naval training program and "MEWP" Maritime Electronic Warfare System Integrated Capability program as well as the British Army's "D-JFI" Dismounted Joint Fires Integrators program, the "JFST" Joint Fires Synthetic Training and the supply of Night Vision Goggles.
|Contact details from our directory:|
|Ferranti Power and Control (was Ferranti Technologies Ltd.)||Ruggedized Power Supplies, Airborne Electrical Power Supplies, Power Conversion Equipment, Power Distribution Equipment, Voltage Regulators|
|TT Electronics plc||Electronic Components, Electromechanical Assembly|
|Elbit Systems UK Ltd||Aircraft Structural Components, Radio Communications Equipment, Warning Systems/Equipment, Weapons Countermeasures, Enhanced Vision Systems (EVS), Helmet-Mounted Displays (HMD), Head-Up Displays|
|Elbit Systems Ltd||Thermal Imaging Equipment, Enhanced Vision Systems (EVS), Chemical Milling, Metal Bonding, Filament Winding Service, Aerial Firefighting Equipment, Forming, Aircraft Structural Components, Moving Maps, Helmet-Mounted Displays (HMD), Electronic Flight Instrument Systems, Laser Radar, FLIR Systems, Cameras (Airborne), Head-Up Displays, Warning Systems/Equipment, Flight Recorders, LCD Displays, Avionics Management Systems, Stores Management Systems, Terrain Awareness and Warning Systems, Terrain Following Radar, Weapons Countermeasures|
|Related directory sectors:|
|Electrical Power Systems|