GEC Plc really doesn’t want anyone to hear about its good news – it waited until after close of play on Friday (the traditional time for announcing massive lay-offs and restructurings when you hope that their impact will be dissipated by the weekend) – to break the news that it is spending $205m to buy the Astronics and Developmental Sciences divisions of Lear Siegler Holdings Inc: the two Los Angeles area businesses, which did $15m net on $124.8m in the year to June in advanced flight control systems and remotely piloted vehicles, are seen as a natural fit for GEC Avionics, and with it will create a group with UKP450m – $720m – combined annual sales, 40% of it in the US, with 7,000 UK and 1,500 US employees.
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