LEXINGTON, Mass., Nov. 15 /PRNewswire/ -- Raytheon Company
(NYSE: RTNA, RTNB) today announced that it has agreed to sell its optical
systems business to The BFGoodrich Company (NYSE: GR). The parties expect to
finalize the sale by the end of the year. Other details of the transaction
were not disclosed. Raytheon will use proceeds from the sale to reduce its
debt.
Headquartered in Danbury, Conn., Raytheon Optical Systems (ROS) is a
leading producer of large optical and sensor systems, precision optics,
reconnaissance systems and laser warning systems for military and civil space
programs. The unit supplies systems for use in the U-2 reconnaissance
aircraft, Apache and SuperCobra attack helicopters, NASA's Hubble Space
Telescope and the Chandra X-ray Observatory. ROS employs about 700 people at
facilities in Danbury, Lexington, Mass., Albuquerque, N.M., and San Jose,
Calif. In 1999, ROS had sales of $152 million.
The BFGoodrich Company has its headquarters in Charlotte, N.C., and
employs 27,000 people worldwide. BFGoodrich's major business segments
currently include Aerospace, Performance Materials and Engineered Industrial
Products. Its Aerospace segment, which accounts for $3.6 billion of the
company's $5.5 billion in annual sales, is one of the world's leading
suppliers of components, systems, and services to the aerospace industry.
Raytheon Company is a global technology leader that provides products and
services in the areas of commercial and defense electronics and business and
special mission aircraft. Raytheon has operations throughout the United
States and serves customers in more than 70 countries.
Contact:
David Polk
781.860.2386
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
David Polk of Raytheon, 781-860-2386
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