Astronics acquires EADS North America Test and Services division
Astronics Corporation (ATRO), a leading provider of advanced technologies for the global aerospace and defence industries, announced that it completed on February 28, 2014, the acquisition of substantially all of the assets and liabilities of Airbus North America’s Test and Services division (EADS T&S) for approximately $53 million in cash plus a preliminary net working capital adjustment of $17 million. EADS T&S will be reported in Astronics’ Test Systems segment.
Astronics had previously announced that it entered into a definitive agreement to acquire EADS T&S on January 21, 2014.
EADS T&S, located in Irvine, California, is a leading provider of highly engineered automatic test systems (ATS), subsystems and instruments for the semiconductor, consumer electronics, commercial aerospace and defencwe industries.