DRS to purchase SPAR Aerospace for $29 million

17 Jun 2002

DRS Technologies, Inc., will purchase the Applied Systems Division of Spar Aerospace Limited for about $29 million. Spar Applied Systems Divisionproduces flight safety and naval communications systems including deployable aircraft locator beacons, tactical air navigation beacons, and thermal visiondevices for surveillance and weapon targeting systems. DRS' products include electronic sensors and electronic imaging and electro-optical systems.