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Article: Actuant Divests Businesses.
- Article from:
- Defense & Aerospace Week
- Article date:
- August 12, 2009
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Actuant Corporation (NYSE:ATU) announced 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 buyer whose ...