4/26/2005 - Aeroflex Incorporated (Nasdaq Symbol: ARXX), a leading designer, developer and manufacturer of automated testing solutions and microelectronics for the aerospace, defence and broadband communications markets, has announced the acquisition of the business of JcAIR Test Systems from aerospace and defence supplier, Goodrich Corporation, for $35 million in cash.
JcAIR Test Systems, with 2004 revenues of approximately $24 million, provides customized avionics test solutions in all areas of manual and automatic test equipment for manufacturing, repair and ground support operation. They have offered consulting, engineering, design, manufacturing, product support and maintenance for over two decades to many of the major air carriers, airframe and avionics manufacturers around the world.
Len Borow, Vice Chairman and COO of Aeroflex said, “The addition of JcAIR Test Systems will enhance Aeroflex’s Avionics product portfolio and will provide more complete testing solutions for the avionics system test market. The JcAIR name is recognized worldwide as a leading provider of avionics testing solutions which has garnered them a leading position and a top tier customer base. The acquisition is expected to produce substantial operating synergies and be accretive to future earnings.”
Aeroflex Incorporated is a global provider of high technology solutions to the aerospace, defence, cellular and broadband communications markets. The Company’s diverse technologies allow it to design, develop, manufacture and market a broad range of test, measurement and microelectronic products. The Company’s common stock trades on the Nasdaq National Market System under the symbol ARXX and is included in the S&P SmallCap 600 index. Additional information concerning Aeroflex Incorporated can be found on the Company’s website: www.aeroflex.com.
About Goodrich Corporation
Goodrich Corporation (NYSE: GR), a Fortune 500 company, is a leading global supplier of systems and services to the aerospace and defense industry. If there’s an aircraft in the sky – Goodrich is on it. Goodrich technology is involved in making aircraft fly…helping them land…and keeping them safe. Serving a global customer base with significant worldwide manufacturing and service facilities, Goodrich is one of the largest aerospace companies in the world. For more information, visit: www.goodrich.com.
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