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AEROSPACE | BRIEFLY

Whittaker to Sell Defense Electronics Unit

September 06, 1997|Regina Hong

Simi Valley-based Whittaker Corp. said it agreed to sell its defense electronics unit in Simi Valley to San Jose-based Condor Systems Inc. for undisclosed terms. The proceeds of the sale, expected to occur by the end of this month, will be used to reduce debt, said Charles Barrantes, Whittaker's chief financial officer. "It just fits with our strategic plan for growth and acquisitions," said Condor spokesman Dave Klingler. The unit to be sold employs 100 of Whittaker's estimated 1,000 employees. Condor Systems officials said they expect to retain the unit's employees, but to relocate them to another building within Simi Valley. Whittaker, which develops fluid-control and fire-safety systems for the aerospace industry as well as data-networking products, lost $79.6 million in the nine-month period ended July 31. Condor Systems is a defense electronics firm with 408 employees.

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