Spirent PLC
2 April 2002
798 - 2 April 2002
SPIRENT PLC SALE OF AEROSPACE COMPONENT BUSINESSES COMPLETED
Spirent plc, the international network technology company, has completed the
sale of its non-core aerospace component businesses from within its Systems
group to Curtiss-Wright Corporation of the United States for a cash
consideration of $60 million (£42 million approx.), following satisfaction of
all conditions in the sale agreement. Spirent announced the divestment of its
aerospace component businesses on 20 February 2002.
Nicholas Brookes, Chief Executive of Spirent, reiterated the comment made when
the sale was announced:
'The divestment of these businesses is a further step in our strategy to focus
on high technology activities. We believe that the businesses we are divesting
more logically fit with the new owners who can provide complementary
manufacturing and marketing.'
- ends -
Enquiries:
Nicholas Brookes, Chief Executive Spirent plc +44 (0)1293 767676
Eric Hutchinson, Finance Director
Jon Coles/Rupert Young Brunswick (London) +44 (0)20 7404 5959
Nina Pawlak Brunswick (New York) +1 212 333 3810
Brian Magnus/Tom Hill Morgan Stanley +44 (0) 20 7425 5000
Background note:
About Spirent
Spirent plc is an international network technology company providing state-of-
the-art solutions with a focus on high growth activities. Our Communications
group unites leading edge performance analysis technology with network
operations expertise, enabling customers to accelerate the development,
deployment and assurance of next generation network equipment and services
worldwide. Further information about Spirent plc can be found at
www.spirent.com
Spirent plc is listed on the London Stock Exchange (ticker: SPT) and on the New
York Stock Exchange (ticker: SPM; CUSIP number: 84856M209) with one American
Depositary Receipt representing four Ordinary shares.
Spirent and the Spirent logo are trademarks of Spirent plc. All rights
reserved.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE: CW, CWb) is a diversified company
headquartered in Lyndhurst, New Jersey. The Company designs, manufactures and
overhauls products for motion control and flow control applications and
additionally is a provider of metal treatment services. The firm employs
approximately 2,600 people. More information on Curtiss-Wright can be found on
the Internet at www.curtisswright.com.
This press release may contain forward-looking statements that are based on
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You can identify these statements by their use of words such
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of downturns in the industries in which we participate; and other risks
described from time to time in Spirent plc's Securities and Exchange Commission
periodic reports and filings. We undertake no obligation to update our forward-
looking statements, whether as a result of new information, future events or
otherwise.
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