Northrop Grumman creates two defense units from TRW buy
- By Patience Wait
- Apr 17, 2003
Northrop Grumman Corp. has created two defense-related operations ? Mission Systems and Space Technology ? from the businesses it acquired in December from TRW Inc., the company announced April 17.
The new sectors comply with the rest of the company's policies and operating procedures, including financial reporting, program oversight and risk management, human resources practices and access to its electronic network.
The company also announced that migration of all TRW corporate functions is on schedule and should be completed by the end of the year.
The two new sectors will continue to work with Northrop Grumman's five other operating sectors and corporate staff to identify and leverage companywide capabilities. Mission Systems will be led by Don Winter, corporate vice president and president of the sector. Wes Bush is the corporate vice president and president of Space Technology.
"Today marks another key milestone in our business integration efforts, providing further testimony to our ability to swiftly and efficiently integrate acquired companies," said Ronald Sugar, Northrop Grumman's chief executive officer and president. He said the Mission Systems and Space Technology sectors were accomplished ahead of schedule and without any major issues.
Since 1994 Northrop Grumman, headquartered in Los Angeles, has acquired 16 companies, growing from about $5 billion in annual revenue to an estimated $25 billion to $26 billion for 2003, and from 30,000 employees to nearly 120,000.