MBDA Buys US Viper Strike Munitions Business

Date : 12/12/2011 @ 11:33AM
Source : Dow Jones News
Stock : Northrop Grumman Corp. (NOC)
Quote : 315.02  2.48 (0.79%) @ 9:38AM

MBDA Buys US Viper Strike Munitions Business

Northrop Grumman (NYSE:NOC)
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MBDA Inc., the U.S. unit of European missile maker MBDA, has bought the Viper Strike munitions business from Northrop Grumman Corp. (NOC) for an undisclosed amount, MBDA said Monday.

The Viper Strike business, located in Huntsville, Alabama, will allow MBDA to design and build precision-guided weapons for both manned and unmanned aircraft in a single location, the company said in a statement

The acquisition, the first in the U.S. by MBDA Inc., provides the company with its second design, development, and manufacturing location in the country. Its original operating unit is in Westlake Village, California.

The transaction has already received the necessary U.S. regulatory approval, the company said.

MBDA is jointly held by BAE Systems PLC (BA.LN) of the U.K. with 37.5%, Franco-German group European Aeronautic Defence & Space Co. EADS NV (EAD.FR) with 37.5% and Italy's Finmeccanica SpA (FNC.MI) with 25%.

-By Nadya Masidlover, Dow Jones Newswires; +33 1 4017 1740; nadya.masidlover@dowjones.com

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