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| Draegerwerk AG of Luebeck, Germany, announced today that it has executed a formal agreement to sell Draeger Aerospace GmbH, its aviation and defense company, to Cobham plc of Wimborne, Dorset in the UK. Subject to final approvals of the respective Boards and of regulatory agencies, the acquisition is expected to be formally completed within the first quarter of 2003. The agreed consideration is €28.4 million payable in cash of which €3 million is deferred for three years. Cobham plc is an established aerospace and defense supplier, with a strong reputation worldwide for specialist systems for aircraft and weapon platforms. |
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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