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Business/Financial

Chemring Agrees To Acquire Countermeasures Assets From Esterline

By Cal Biesecker

Wednesday, November 25th, 2015

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Chemring Agrees To Acquire Countermeasures Assets From Esterline

Aircraft infrared countermeasures products offered by Esterline's Wallop subsidiary. Photo: Esterline

Britain’s Chemring Group on Wednesday said it has agree to buy countermeasures assets from a United Kingdom-based subsidiary of Esterline Corp. [ESL] for $3.8 million plus a potential earnout provision worth up to $13.6 million.The deal is expected to close in early 2016 subject to U.K. regulatory approvals.Chemring is buying patents, equipment, stock and selected contracts of Esterline’s Wallop Defence Systems subsidiary. The assets included in the deal include military aircraft infrared decoy flare countermeasures.The sale by Esterline is part…

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