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August 2, 1987

GLC TO BUY ASTRONICS AND DEVELOPMENTAL SCIENCES DIVISIONS OF LEAR SIEGLER HOLDINGS

By CBR Staff Writer

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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