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Article: Edina, Minn.-Based Alliant Techsystems Buys Virginia Aerospace Firm.
- Article from:
- Saint Paul Pioneer Press (St. Paul, MN)
- Article date:
- November 25, 2003
CopyrightCOPYRIGHT 2003 Saint Paul Pioneer Press. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jennifer Bjorhus
Nov. 25--Defense contractor Alliant Techsystems Inc. in Edina has entered the hypersonic flight business, buying two divisions of Virginia-based Allied Aerospace Industries Inc. in a roughly $40 million cash deal that closed last week.
While the acquisition isn't expected to generate significant new sales for Alliant Techsystems initially, the company considers it strategic because the special "scramjet" engines the businesses are developing likely will power some of the next generation of aircraft being planned by the government.
In theory, NASA's lightning-fast hypersonic aircraft could carry the precision weapons ...