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Article: Actuant Divests Businesses.
- Article from:
- Business Wire
- Article date:
- July 27, 2009
CopyrightCOPYRIGHT 2009 Business Wire. 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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MILWAUKEE -- Actuant Corporation (NYSE:ATU) announced today that it has completed the sale of its Acme Aerospace business to TransDigm Group, Inc. (NYSE:TDG). Actuant's Acme Aerospace business, reported within the Engineered Solutions segment, designs and manufactures lightweight, high power battery chargers, power supplies and backup power systems including fiber nickel cadmium (FNC) batteries for use in commercial and military aerospace applications. The business has annual revenues of approximately $18 million.
Robert C. Arzbaecher, Actuant Chief Executive Officer commented, "We are pleased to have completed the divestiture of this business to a strategic ...