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Rockwell Collins to Acquire K Systems

October 25, 2000|Bloomberg News

Rockwell International Corp.'s aviation unit agreed to buy the parent of Kaiser Aerospace & Electronics Corp. for $300 million, only a day after General Electric Co. said it will buy Rockwell rival Honeywell International Inc. Rockwell Collins signed a definitive agreement to buy Foster City, Calif.-based K Systems Inc., the holding company for Kaiser Aerospace, a maker of display products for fighter aircraft and related products for the defense industry, the Milwaukee-based Rockwell said. "This acquisition is evidence of our strategic initiative to expand our business and achieve growth across market segments," Rockwell Chief Executive Don Davis said. Kaiser Aerospace will help Rockwell Collins to expand its expertise in the business of aviation electronics, he added. On Monday, Rockwell International shares gained 14% as investors speculated that the maker of factory automation and avionics equipment is itself a takeover target after General Electric said it agreed to buy Honeywell. Rockwell fell $2.75 to close at $37.56 on the New York Stock Exchange.

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