BAE Systems sells off aerospace components company
BAE Systems has reached an agreement to sell its Composite Structures business to EnCore Composites Holdings Inc. Financial terms were not reported.
BAE Systems has reached an agreement for the proposed sale of its Composite Structures business in Brea, Calif., to EnCore Composites Holdings Inc. Financial terms were not reported in the May 25 announcement.
Composite Structures designs and manufactures complex, highly engineered composite components and assemblies primarily for commercial and defense aerospace platforms.
BAE Systems acquired the company when it purchased United Defense in 2005.
“The decision to sell the Composite Structures business was made to better align the company’s strategic objectives and business portfolio,” said Frank Pope, president of BAE Systems Land and Armaments division, in the statement.
The proposed sale is expected to close during the second or third quarter of 2011.
BAE Systems Inc., of Arlington, Va., ranks No. 15 on Washington Technology’s 2010 Top 100 list of the largest federal government contractors.
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