Rockwell Collins to Buy Acterna Unit in Tustin
Rockwell Collins Inc., a maker of instruments for aircraft cockpits, agreed to buy Acterna Corp.’s Airshow unit in Tustin for $160 million to gain electronic-control products for business jet passenger cabins.
The cash acquisition would dilute Rockwell Collins’ fiscal 2003 profit slightly, the company said. Airshow, which had fiscal 2002 sales of $65 million, employs about 330.
Airshow makes climate, light and video controls. The acquisition would give Rockwell products to sell to such firms as General Dynamics Corp.’s Gulfstream unit and Textron Inc.’s Cessna, said Pat Zerbe, a spokeswoman for Cedar Rapids, Iowa-based Rockwell.
Shares of Rockwell fell 74 cents to $23.86 on the NYSE. They have climbed 22% this year. Acterna, based in Germantown, Md., rose 28 cents, to 84 cents, on Nasdaq.
The purchase is expected to be finalized by Sept. 30.
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