Military contractor Raytheon Co. said yesterday that it has formally completed its purchase of AlliedSignal Communications Systems of Towson, which was first announced in July, for $62.5 million.
Raytheon spokeswoman Deborah Drew said yesterday that day-to-day operations of the plant, which has projected revenues of $122 million this year, will continue without disruption for the time being. She said company leaders will decide if any staff cuts are needed.
Raytheon, based in Lexington, Mass., is leasing the Joppa Road plant from AlliedSignal's parent company, AlliedSignal Inc. of Morristown, N.J., although Drew declined to discuss terms or length of the lease.
The plant, to be known as Information Systems, develops and produces communications technology systems for combat identification, military radar and civilian air traffic management and tactical information.
Analysts said the deal makes sense and will be good for tTC employees, because the plant was not consistent with AlliedSignal's position as a company with diversified interests in aerospace, automotive and chemical products.
Pub Date: 9/11/98