For Immediate Release
April 28, 2007
J.F. Lehman & Company is pleased to announce that it has signed a definitive agreement to acquire from BAE Systems its Inertial Products business.
The business is comprised of BAE Systems Inertial Products Inc., based in Cheshire, Connecticut, and BAE Systems’ inertial products business in Plymouth, U.K. (including its 50% shareholding in Silicon Sensing Systems Limited). Inertial Products supplies to military and commercial customers inertial sensors and measurement units for the control, navigation and guidance of air and ground vehicles, precision weapons systems, missiles and aerial targets as well as digital terrain systems for aircraft. The business employs approximately 810 people.
Completion of the sale is conditional upon, among other things, regulatory approval and is expected to take place in the second half of 2007.