LEXINGTON, Mass., July 25 /PRNewswire-FirstCall/-- Raytheon Company (NYSE:
RTN) announced today that it has acquired the Honeywell Aerospace and Defence
Services (HADS) business unit of Honeywell (NYSE: HON) in Australia. With
U.S. $20 million in revenue, HADS is a provider to the Australian Defence
Forces of aviation life-cycle support operations in the form of avionics
maintenance, logistics and depot operations for fixed wing platforms.
"This acquisition establishes Raytheon as a principal provider of
integrated aerospace support services to the Australian Defence Forces," said
William H. Swanson, Raytheon chief executive officer and president. "It
enhances our capabilities in two of our strategic business areas-Intelligence,
Surveillance and Reconnaissance and Precision Engagement."
The terms of the transaction were not disclosed. HADS has become part of
Raytheon Australia Pty Ltd, and is aligned with Raytheon Technical Services
Company in Reston, Va.
Raytheon Company, with 2002 sales of $16.8 billion, is an industry leader
in defense, government and commercial electronics, space, information
technology, technical services, and business and special mission aircraft.
With headquarters in Lexington, Mass., Raytheon employs more than 76,000
people worldwide.
Contact:
Amy Hosmer
781-860-2423
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
Amy Hosmer of Raytheon Company,
+1-781-860-2423
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