L-3 Communications has completed the acquisition of Cincinnati Electronics from CMC Electronics Inc. on December 9, 2004 further to having received all the required U.S. regulatory approvals.
The new company, renamed L-3 Communications Cincinnati Electronics, Inc., is expected to be accretive to L-3 Communications' results for 2005.
Headquartered in Mason, Ohio, Cincinnati Electronics designs and manufactures a range of infrared (IR) detectors, imaging sensors, missile warning systems, space launch vehicle products and spacecraft electronics. These operations provide IR components, electronics, and systems reconnaissance, navigation and missile seekers for a number of U.S. launch vehicles and spacecraft electronic niche markets.
"Cincinnati Electronics, along with L-3's recently acquired Infrared Products business, positions L-3 with the full spectrum of infrared products, including both mid-wavelength cooled and long-wavelength uncooled products, to serve the commercial and military markets,'' said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "The demand for electro optic/infrared (EO/IR) capability will continue to expand rapidly and L-3 is now positioned with products from high performance sensor systems, to gimbaled systems, to cameras and components.''
As part of the transaction, CMC Electronics has entered into a long-term supplier agreement with Cincinnati Electronics for current and next-generation infrared sensors to support CMC Electronics' Enhanced Vision System (EVS). The agreement provides CMC Electronics with long-term and exclusive access to Cincinnati Electronics' world leading technology for the commercial and military EVS aviation markets.