MONTREAL, August 20 -- CMC Electronics has agreed to sell its Military Communications Div. to Ultra Electronics of Middlesex, England.
This transaction, along with CMC's recent acquisition of Flight Visions Inc., a manufacturer of heads-up displays and mission computers, is part of CMC's strategy to divest certain non-core assets and to build its aviation electronics, infrared systems and space electronics business, the company said. Proceeds of the sale will be used for further acquisitions and for general corporate purposes. The transaction is expected to be finalized over the next few weeks.
For more information, write to Janka.Dvornik@cmcelectronics.ca, or visit http://www.cmcelectronics.ca