L-3 Communications Acquires Aeromet, Inc.Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--June 12, 2003 L-3 Communications (NYSE NYSE See: New York Stock Exchange : LLL LLL abbr. left lower lobe (of the lung) ) announced today that on May 30, 2003 it acquired all of the issued and outstanding stock of Aeromet, Inc. The transaction, which is valued at approximately $20 million, is expected to be slightly accretive to L-3 Communications' earnings. Aeromet had annual sales of $30 million in 2002. Headquartered in Tulsa, OK, Aeromet provides a broad array of services, including electro-optical and infrared (EO/IR EO/IR Electro-Optical/Infra-Red ) programs supporting intelligence, surveillance, and reconnaissance An activity that synchronizes and integrates the planning and operation of sensors, assets, and processing, exploitation, and dissemination systems in direct support of current and future operations. This is an integrated intelligence and operations function. Also called ISR. (ISR) missions and specialized meteorological applications. The company operates in several key mission areas: test and instrumentation work, aeronautical programs and special mission aircraft, airborne surveillance for ballistic missile defense (BMD BMD In currencies, this is the abbreviation for the Bermudian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), advanced atmospheric sciences and measurements and remote site and range operations. Aeromet's customer base includes the Department of Defense (DoD), the Missile Defense Agency (MDA (1) (Monochrome Display Adapter) The first IBM PC monochrome video display standard for text. Due to its lack of graphics, MDA cards were often replaced with Hercules cards, which provided both text and graphics. See PC display modes and Hercules Graphics. ), the U.S. Army, the U.S. Navy, the Department of Energy (DoE), and aerospace prime contractors. "Aeromet provides a unique, substantial and proven new EO/IR capability, which is already in use by the MDA, to L-3 Communications," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "Aeromet advances our strategy to expand L-3's EO/IR product lines, which began with our Wescam acquisition in 2002. We also see the opportunity to apply Aeromet technology to L-3's current ISR products supporting Airborne Infrared Surveillance (AIRS), an emerging near-term solution to BMD surveillance requirements. "One of Aeromet's key areas of expertise," continued Mr. Lanza, "is in airborne test, instrumentation, design and production in support of the Ballistic Missile Defense program. Aeromet is a leader in pointing, acquisition and tracking technology for ballistic targets. Performing these tasks in midcourse flight is one of the most technically demanding exercises in missile defense." Mr. Lanza noted that Aeromet has become the leading supplier of airborne Test and Evaluation support for the MDA. Two of their aircraft, HALO-I and HALO-II, are currently the only operational airborne Test and Evaluation platforms for the MDA. In addition, Aeromet is providing the primary sensor system for a third aircraft, called WASP, which is currently under development. Aeromet has successfully participated in more than 150 optical surveillance missions for the DoD supporting BMD technology development and BMD element testing. Aeromet also conducts meteorological support for the Reagan Test Site (RTS (Request To Send) An RS-232 signal sent from the transmitting station to the receiving station requesting permission to transmit. Contrast with CTS. 1. (operating system) RTS - run-time system. 2. ) at the Kwajalein Atoll, and operates and staffs the DoE's Southern Great Plains Cloud and Radiation Testbed located near Lamont, OK. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , L-3 Communications is a leading merchant supplier of Intelligence, Surveillance and Reconnaissance Intelligence, Surveillance and Reconnaissance may refer to:
Homeland Security executive department - a federal department in the executive branch of the government of the United States , selected U.S. Government intelligence agencies, aerospace prime contractors and commercial telecommunications and wireless customers. To learn more about L-3 Communications, please visit the company's web site at www.L-3Com.com. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and OF 1995 Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements. |
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