DECEMBER 22--L-3 Communications (New York, NY; www.L-3Com.com) completed the acquisition of Cincinnati Electronics from CMC Electronics Inc. on December 9, 2004, further to having received all the required US regulatory approvals. The new company, L-3 Communications Cincinnati Electronics Inc., is expected to be accretive to L-3 Communications' results for 2005.
Headquartered in Mason, OH, Cincinnati Electronics designs and manufactures a range of infrared (IR) detectors, imaging sensors, missile warning systems, space launch vehicle products, and spacecraft electronics. These operations provide IR components, electronics, and systems reconnaissance, navigation and missile seekers for a number of US launch vehicles and spacecraft electronic niche markets.
"Cincinnati Electronics, along with L-3's recently acquired infrared products business, positions L-3 with the full spectrum of IR products, including both mid-wavelength cooled and long-wavelength uncooled products, to serve the commercial and military markets," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "The demand for electro-optic/infrared capability will continue to expand rapidly, and L-3 is now positioned with products from high-performance sensor systems, to gimbaled systems, to cameras and components."
As part of the transaction, CMC Electronics has entered into a long-term supplier agreement with Cincinnati Electronics for current and next-generation IR sensors to support CMC Electronics' enhanced vision system (EVS). The agreement provides CMC Electronics with long-term and exclusive access to Cincinnati Electronics' technology for the commercial and military EVS aviation markets.