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Article: The Allied Defense Group, Inc. Closes Sale of Global Microwave Systems, Inc.
- Article from:
- PR Newswire
- Article date:
- October 1, 2008
CopyrightCOPYRIGHT 2008 PR Newswire Association LLC. 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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VIENNA, Va., Oct. 1 /PRNewswire-FirstCall/ -- The Allied Defense Group, Inc. announces it has closed the previously announced sale of its California subsidiary, Global Microwave Systems, Inc. to a wholly owned subsidiary of Cobham plc, an international company engaged in the development, delivery and support of advanced aerospace and defense systems for land, sea and air platforms.
Allied Defense Group received $26 million in cash in this transaction.
Major General (Ret) John J. Marcello, President and Chief Executive Officer of The Allied Defense Group said, "GMS has been an important part of our Electronic Security business segment. It has shown ...