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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  BAE Systems plc    BA.   GB0002634946

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BAE Systems plc : BAE Systems Announces Agreement to Sell Safariland Business

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05/02/2012 | 03:25pm CET

BAE Systems announced today that it has reached an agreement for the sale of its Ontario, California-based Safariland, LLC business to a newly formed acquisition vehicle affiliated with Kanders & Company, Inc.

Safariland, which has been part of BAE Systems since the 2007 acquisition of Armor Holdings, Inc., is a leading manufacturer and well recognized brand of innovative, high-quality protective products for law enforcement and security customers worldwide. The business employs approximately 1,700 people who work in the United States and Mexico at five locations in Ontario, California; Jacksonville, Florida; Pittsfield, Massachusetts; Casper, Wyoming; and Tijuana, Mexico.

"This proposed sale is another step in our ongoing plan to streamline our organization and further align the business portfolio with our strategy," said Frank V. Pope, president of BAE Systems, Inc.'s Land & Armaments sector. "We believe that this sale is in the best interests of BAE Systems as well as the Safariland business."

The proposed sale is conditional, among other things, upon receiving certain regulatory approvals, and is expected to close during the second or third quarter of 2012.

BAE Systems
Brian Roehrkasse, +1 703 312 6976
Mobile: +1 703 307 2568
brian.roehrkasse@baesystems.com
www.baesystems.com


© Business Wire 2012
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Financials ( GBP)
Sales 2016 18 444 M
EBIT 2016 1 815 M
Net income 2016 997 M
Debt 2016 1 696 M
Yield 2016 3,50%
P/E ratio 2016 17,83
P/E ratio 2017 16,06
EV / Sales 2016 1,14x
EV / Sales 2017 1,06x
Capitalization 19 328 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 6,34  GBP
Spread / Average Target 4,1%
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Ian Graham King Chief Executive Officer & Executive Director
Roger M. Carr Chairman
Charles Nicolas Woodburn Chief Operating Officer & Executive Director
Peter J. Lynas Executive Director & Group Finance Director
Harriet Green Independent Non-Executive Director
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