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In an announcement today, global defence, aerospace and security organisation, BAE Systems, has confirmed the sale of its Composite Structures business unit for $32.5 million. The deal, which is due to complete later in the summer, is with EnCore Composites Holdings, Inc, and will see the company take over the Brea, California site which employs around 170 people.
The facility manufactures highly-engineered, complex composite components and product assemblies used in defence and commercial aerospace systems. It was itself an acquisition, bought in 2005 when BAE acquired the business of United Defense.
BAE employs approximately 100,000 staff worldwide, delivering a full range of systems and services for air, land and naval forces and achieving 2010 sales of £22.4 billion.
Frank Pope, President of BAE Systems Land & Armaments division explained: "The decision to sell the Composite Structures business was made to better align the company's strategic objectives and business portfolio."
Author: Mike King, Analyst
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