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L-3 Selling Commercial Marine Business To Wartsila

Cal Biesecker By
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L-3 Communications [LLL] yesterday said it has agreed to sell its Germany-based Marine Systems International (MSI) business, which is mainly focused on the commercial ship industry, to Finland’s Wartsila Corp. for $355.9 million in cash. Wartsila said MSI is expected to generate about $500 million in sales this year with an operating margin of about 6.5 percent. The commercial ship unit has more than 1,700 employees and provides automation, navigation and electrical systems, dynamic positioning technology, and sonar and underwater…

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