Raytheon To Purchase Assets Of Standard Radio
Raytheon Company announced that it has completed the transaction to purchase certain assets of the marine communication business of Standard Radio A8 of Sweden. Standard (Stockholm, Sweden), is a manufacturer of shipboard communications equipment which complies with international requirements for the Global Maritime Distress and Safety System (GMDSS) and point-to-point communications systems for land-based applications. Sales of these products in 1995 were approximately S7 million. These product lines will become part of Raytheon Marine's marine electronics business with sales of more than S200 million to the merchant shipping, commercial fishing, recreational boating and government markets worldwide.
Standard Radio product lines are highly complementary with Raytheon Marine's existing radar and navigation products. This acquisition will also allow Raytheon to compete more effectively in the worldwide marketplace because the combined companies can now offer shipowners and builders complete solutions for integrated ship control, communications systems, and sensor inputs from radar, global positioning systems and gyro compasses. Raytheon Marine employs more than 1,000 people worldwide, with operations in Manchester, N.H. (U.S.); Portsmouth (U.K.); and Kiel (Germany).
Raytheon Company, headquartered in Lexington, Mass.., is a SI 2-billion international, high technology company which operates in four businesses: commercial and defense electronics; engineering and construction; aviation; and major appliances.