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Exelis Provides Details Of New Mission Systems Company Ahead Of Spin-Off

Cal Biesecker By
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Exelis Provides Details Of New Mission Systems Company Ahead Of Spin-Off

The $1.5 billion mission systems business that Exelis [XLS] plans to spin-off later this year is heavily dependent on work for the Army, although the new company plans to broaden its customer base as part of a four-prong business strategy, according to a filing Exelis made today with government regulators. MSCO, as the new company will be called, generated about 92 percent of its sales last year through the Army, according to Exelis’ Form 10 filing with the Securities and…

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