L3 Completes Sale of Vertex Aerospace Businesses
Summary
NEW YORK--( BUSINESS WIRE )--L3 Technologies (NYSE:LLL) announced today that on June 29, 2018 it completed the previously announced sale of its Vertex Aerospace businesses to American Industrial Partners for $540 million in cash, subject to customary adjustments.“The sale of Vertex is another positive step that will enable us to reshape and align our portfolio with customers’ priorities,” said Christopher E. Kubasik, L3’s Chairman, Chief Executive Officer and President.Headquartered in New York City, L3 Technologies employs approximately 31,000 people worldwide and is a leading provider of a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms.Financial and other material information regarding L3 is routinely posted on the company’s website and is readily accessible.Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995