BAE Systems Completes Sale of Inertial Products Business
ROCKVILLE, Maryland – BAE Systems today completed the sale of its Inertial Products business.
The $140 million cash sale to J.F. Lehman & Co. was announced April 24. Closing of the sale today followed completion of regulatory reviews and approvals.
The Inertial Products business supplies military and commercial customers with inertial sensors and measurement units for the control, navigation, and guidance of precision weapon systems, missiles, air and ground vehicles, and aerial targets, and provides digital terrain systems for aircraft.
The approximately 810 employees affected by the transaction are based in Cheshire, Connecticut; Heath, Ohio; Wayne, New Jersey; and Plymouth, United Kingdom.
The sale includes BAE Systems’ share of Silicon Sensing Systems, a joint venture with Sumitomo Precision Products that is based in the U.K. and Japan. Silicon Sensing Systems provides solid-state sensors to automotive and military customers worldwide.
“This divestiture is consistent with BAE Systems’ strategy to expand as a developer and integrator of systems and de-emphasize its role as a components provider,” said Mike Heffron, president of the BAE Systems’ Electronics & Integrated Solutions unit.
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