Spectrum Astro Acquisition To Open New Markets For General Dynamics

摘要

The acquisition of satellite-maker Spectrum Astro Inc. will return General Dynamics to the space hardware business at a time of soaring U.S. military spending on space and missile-defense projects. General Dynamics, which sold its aircraft and satellite-launcher businesses in the 1990s in order to concentrate on armored vehicles, ships and information technology, announced March 18 that it has agreed to buy Spectrum Astro for an undisclosed sum. The transaction, which is subject to U.S. regulatory approval, is expected to close in 60 days, according to Rob Doolittle, a spokesman for Gen- eral Dynamics of Falls Church, Va. Privately held Spectrum Astro had been an acquistion candidate since December 2002, when it retained New York investment banker Morgan Stanley to review its growth options for the future.