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Aeroflex Announces Plan to Divest Shock and Vibration Control Business
June 28, 2004 |Estimated reading time: Less than a minute
Plainview, N.Y. — Aeroflex Inc. announces it will divest its shock and vibration control device manufacturing business located in Bloomingdale, N.J., and will seek a strategic buyer.
Aeroflex's strategic direction is to dedicate its resources to growing its automated test and microelectronic solutions businesses. Consequently, the shock and vibration control device business is not core to ongoing operations. For the nine months ended March 31, 2004, this operation had sales of $11.4 million and operating income of $479,000, representing an insignificant portion of consolidated operating results.
Aeroflex Inc. is a global provider of high technology solutions to the aerospace, defense and broadband communications markets. For more information, visit www.aeroflex.com.