L-3 Communications acquires Coleman Research Corporation
Coleman Research Corporation is expected to generate revenues of approximately $100 million in 2001, and to be slightly accretive to L-3's earnings in 2001.
With operations in Orlando, FL, Fairfax, VA, and Huntsville, AL, Coleman Research provides a full range of high-end services and products including communications and signal processing, intelligence and space instrumentation equipment, and simulation, training, modeling and exercise support to military customers. The Orlando facility provides design and prototype development of ballistic missile targets for present and future threat deployments. This division also provides the US government with high-fidelity custom targets that are complementary to the new administration's growing focus and priority on national missile defense and space programs.
"Coleman is a profitable, well managed company with a wealth of technical talent," said Frank C. Lanza, chairman and chief executive officer of L-3 Communications. "Its market-leading businesses will dovetail nicely with our current secure communications segment, give us a stronger presence in high priority national programs such as theater and national missile defense (TMD/NMD), and help us leverage our existing relationship with the intelligence community."
"By becoming part of L-3 Communications, Coleman can now take advantage of our extensive marketing support and product base to further expand its growth opportunities," continued Mr. Lanza. "At the same time, we also see opportunities to improve Coleman's margins and profitability."
Thermo Electron Corporation is a leading provider of analytical and monitoring instruments used in a broad range of applications, from life sciences research to telecommunications to food and beverage production. In addition, Thermo Electron serves the healthcare market through a family of medical products, and is a major producer of paper recycling systems and provides water-clarification and fiber- recovery products and services. As announced on January 31, 2000, the company has initiated a major reorganization that would transform it into one company focused on its core measurement and detection instruments business. More information is available at http://www.thermo.com.
Headquartered in New York City, L-3 Communications is a leading merchant supplier of secure communications systems and products, avionics and ocean products, training products, microwave components and telemetry, instrumentation, space and wireless products. Its customers include the Department of Defense, selected US government intelligence agencies, aerospace prime contractors and commercial telecommunications and wireless customers.
To learn more about L-3 Communications, please visit the company's web site at www.L-3Com.com.