CMC Electronics Acquires Flight Visions Inc.
(Montréal, June 11, 2002) CMC Electronics has signed an agreement today to acquire Flight Visions Inc., of Sugar Grove, Illinois. Flight Visions is a well established military aviation company that designs and manufactures a range of cockpit systems and products that includes head-up displays (HUDs), mission computers and control panels for fighter and fighter trainer aircraft, as well as rotary wing aircraft. The operation in Sugar Grove, Illinois, comprises approximately 100 employees and will operate as an integral part of CMC Electronics. The transaction is expected to close in approximately six weeks.
"This acquisition represents an excellent opportunity to significantly enhance CMC's capability to become the value leader in military aviation cockpit systems. The addition of Flight Visions, with its very competitive products and software, will broaden our combined product portfolio and provide access to new customers and markets," explained Jim Close, president and CEO, CMC Electronics. Close added, "We welcome the dynamic and entrepreneurial management team and employees of Flight Visions."
Flight Visions' president and CEO Bob Atac stated that: "Flight Visions has an excellent military aviation market presence, a pipeline of current contracts and a rapidly growing list of potential opportunities that will become an integral part of CMC's military aviation strategy."
CMC Electronics is the new name for a company that was known for decades as Canadian Marconi. CMC Electronics is a private company controlled by an investor group led by ONCAP L.P. CMC designs and produces leading technology electronics products for the aviation, communications, infrared sensing, marine electronics, global positioning and space markets. CMC Electronics has designed and built innovative communication and electronics systems since 1903. Its principal locations are in Montreal, Ottawa and Cincinnati. The company's capabilities are broadened by its subsidiaries NovAtel Inc. in Calgary, Alberta, and Northstar Technologies in Acton, Massachusetts.
Flight Visions is a manufacturer and integrator of aircraft cockpit systems, including multi-functional Head-Up and Head-Down Displays, control display units, modular mission display processors and mission software. These products are currently flying on over 20 different military and civil aircraft throughout the world.
Contacts
Janka Dvornik
Public Relations Manager
CMC Electronics Inc. (Farnborough - Hall 4, C21)
Telephone : (514) 748-3113
Fax : (514) 748-3184
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Cathy Babos
Marketing Manager
Flight Visions Inc. (Farnborough - Hall 2, A18)
Telephone : (630) 466-2112
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