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L-3 Completes Acquisition of Chesapeake Sciences Corporation

^{Published on 2009-02-09 09:31:16, Last Modified on 2009-02-09 09:31:59 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--L-3 Communications (NYSE: LLL) announced today that it completed the acquisition of Chesapeake Sciences Corporation (CSC) on January 30, 2009. Terms were not disclosed. CSC is a developer and manufacturer of anti-submarine warfare (ASW) systems based in Millersville, Md. The acquired business, renamed L-3 CSC, is expected to add approximately $60 million to L-3's sales for 2009, and to be accretive to L-3's earnings.

Headquartered in New York City, L-3 Communications employs over 64,000 people worldwide and is a prime contractor in aircraft modernization and maintenance, C³ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems and government services. L-3 is also a leading provider of high technology products, subsystems and systems. The company reported 2008 sales of $14.9 billion.

To learn more about L-3, please visit the company's Web site at [ www.L-3com.com ]. L-3 uses its Web site as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company's Web site and is readily accessible.

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