MONTREAL, March 15 /CNW Telbec/ - CMC Electronics Inc. announces that
Esterline Corporation (NYSE: ESL www.esterline.com) of Bellevue, Washington,
has completed the acquisition of CMC Electronics Inc.
Esterline is a leading worldwide supplier to the aerospace and defence
industry, and is specialized in three core areas: Avionics & Controls; Sensors
& Systems; and Advanced Materials. With CMC, Esterline now employs more than
9,000 employees. It operates 35 units in 11 states in the U.S., plus Canada,
France, Germany, the U.K. and China.
Robert W. Cremin, Esterline's chief executive officer, said that: "The
transaction significantly expands the scale of Esterline's existing Avionics &
Controls business by adding a premier systems integrator of high technology
avionics. CMC is a natural evolution following Esterline's successful
performance as a Tier 1 supplier to Boeing for the 787 cockpit Overhead Panel
Cremin added that: "CMC will continue to run as a stand-alone operation
reporting through Esterline's Avionics & Controls segment. CMC brings us an
experienced and proven management team and a strong engineering and technology
Jean-Pierre Mortreux, president and CEO, CMC Electronics, said: "We are
very pleased with the conclusion of this transaction. Being part of the
Esterline family will allow CMC to pursue its long-term strategy and provide
additional opportunities for future growth."
CMC Electronics designs and produces leading technology electronics
products, including Flight Management Systems, Enhanced Vision Systems,
Electronic Flight Bags, Global Positioning System receivers and Satcom
antennas for the aviation and global positioning markets. CMC's focus is on
delivering innovative cockpit systems integration and avionics solutions to
its customers worldwide. Its principal locations are in Montreal, Quebec;
Ottawa, Ontario; and Chicago, Illinois. The company employs more than 1,200
people, including over 400 engineers, and has been designing and building
innovative electronics systems since 1902.
For further information:
For further information: Mrs. Janka Dvornik, Communications and Public
Relations Manager, (514) 748-3113, Janka.Dvornik@cmcelectronics.ca,