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Thu, Jul 11, 2019

Astronics Signs Definitive Agreement To Sell Its Airfield Lighting Product Line

Will Be Acquired By Hughey & Phillips LLC

Astronics Corporation, a  provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced today the signing of a definitive agreement under which Hughey & Phillips, LLC, will acquire the Airfield Lighting product line from Astronics.

The transaction, subject to customary closing conditions and adjustments, is expected to close on or before July 12, 2019.

"As we continue to build and grow our business, the Airfield Lighting product line comprised less than 1% of our 2018 revenue and no longer fits within our core offerings," said Peter J. Gundermann, Chairman, president and Chief Executive Officer. "This transaction allows us to focus our efforts and drive more profitable growth across our organization.”

Hughey and Phillips (H&P) is one member of a conglomerate of companies serving the aviation, transportation, security and medical markets from its headquarters in Urbana, Ohio. H&P is a provider of obstruction and airport lighting products and has been serving the safety needs of the transportation industry since the 1930s.

(Source: Astronics news release)

FMI: www.hugheyandphillips.com
www.astronics.com

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