The Irvine-based test and services division of EADS North America will be sold to an aerospace company in New York for $53 million in cash.
Astronics Corp., located in East Aurora, is set to acquire all of the assets and liabilities of the EADS unit under the deal. The buy is expected to close next month.
The local EADS unit makes instruments, automatic test systems, and subsystems for various industries, including aerospace and defense.
EADS’ testing and services division posted sales of about $70 million last year. Revenue is projected to hit about $100 million this year.
The division employs about 210 people.
It remains to be seen whether employees
will stay in Irvine after the transaction is finalized.
–Chris Casacchia
