Disposal

RNS Number : 5711U

BAE SYSTEMS PLC

23 December 2011

 



BAE Systems to sell Safety Products and Schroth businesses

23 December 2011

BAE Systems announces an agreement for the sale of its BAE Systems Safety Products Inc. ("Safety Products") and Schroth Safety Products GmbH ("Schroth") businesses to Takata Corporation for cash consideration of approximately $32 million.  The businesses include operations in Pompano Beach, Florida, and Arnsberg, Germany, and employ approximately 150 people who design and manufacture occupant restraints and safety products that are utilized across commercial and defense ground and aerospace platforms.

The sale of the Safety Products and Schroth businesses is conditional, among other things, upon receiving certain regulatory approvals and is expected to close during the first quarter of 2012.

Issued by:

BAE Systems plc

London

 

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