Esterline Corporation announced the divestiture of its UK-based Muirhead Aerospace subsidiary to AMETEK. Muirhead, one of Esterline’s smaller operations, designs and manufactures a range of specialized motion technology including precision electro-mechanical actuators and servo components for a wide variety of aircraft, land vehicles, ships and missiles. The operation also provides maintenance, repair and overhaul services to the UK’s aviation industry.
Esterline anticipates an after-tax gain on the sale of about $16 million. The gain will be reported in the company’s first quarter, ending January 30, 2009.
