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Moog Closes Poly-Scientific Acquisition

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EAST AURORA, N.Y., Oct. 2 -- Moog Inc. announced yesterday it has closed on its acquisition of the assets of Northrop Grumman Corp.'s Poly-Scientific Division, which will now be known as the Moog Components Group. Net proceeds of $72 million from Moog's equity offering, which closed on Sept. 16, resulted from the sale of 2,012,500 newly issued Class A shares and were used to pay for part of the $158 million acquisition. The balance of the purchase price was funded through the company's credit agreements. Poly-Sci is a manufacturer of motion control and data transmission devices. Its...Read full article

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    Published: October 2003
    data transmissiondefensefiber optic slip ringsindustrialMoogMoog Components GroupMotion ControlNews & FeaturesNorthrop Grumman

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