Esterline Completes Sale of Kirkhill Elastomer Business
March 15 2018 - 4:10PM
Esterline Corporation (NYSE:ESL) (www.esterline.com), a leading
specialty manufacturer serving the global aerospace and defense
markets, today announced that it has completed the sale of its
Kirkhill engineered elastomer business based in Brea, Calif., to
TransDigm Group Incorporated (NYSE:TDG) for a total purchase price
of $50 million, subject to normal and customary adjustments.
The Kirkhill business produces specialty seals and other rubber
components primarily for aerospace and defense markets.
About Esterline
Esterline Corporation is a leading worldwide
supplier to the aerospace and defense industry specializing in
three core business segments: Advanced Materials; Avionics &
Controls; and Sensors & Systems. With annual sales of
approximately $2 billion, Esterline employs roughly 13,000 people
worldwide and is headquartered in Bellevue, Wash.
Operations within the Advanced Materials segment
focus on technologies including high-temperature-resistant
materials and components used for a wide range of military and
commercial aerospace purposes, and combustible ordnance and
electronic warfare countermeasure products.
Operations within the Avionics & Controls
segment focus on technology interface systems for commercial and
military aircraft and similar devices for land- and sea-based
military vehicles, integrated cockpit systems, display technologies
for avionics, training and simulation markets, secure
communications systems, specialized medical equipment, and other
high-end industrial applications.
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements relate to future events or the
company’s future financial performance. In some cases, you can
identify forward-looking statements by terminology such as
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “might,” “plan,” “potential,” “predict,” “should”
or “will,” or the negative of such terms or other comparable
terminology. These forward-looking statements are only predictions
based on the current intent and expectations of the management of
Esterline, are not guarantees of future performance or actions, and
involve risks and uncertainties that are difficult to predict and
may cause Esterline’s or its industry’s actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Esterline’s actual results and the
timing and outcome of events may differ materially from those
expressed in or implied by the forward-looking statements due to
risks detailed in Esterline’s public filings with the Securities
and Exchange Commission including its most recent Transition Report
on Form 10-K.
Contact:
Investor Relations – John Hobbs Media – Michelle
DeGrand+1 425-453-9400
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