Harris to divest aerostructures business

Harris Corp. announced today it has agreed to sell its aerostructures business to Albany International for $210 million, including $187 million in cash and the assumption of a $23 million capitalized lease.

Harris acquired the unit as part of its purchase of Exelis last year. The aerostructures business, part of its electronic systems segment, posted $77 million in sales last year and operates in two facilities in Salt Lake City, UT, Harris said.

Albany International is a textiles and materials processing company. The deal is expected to close by the end of this quarter, which concludes in March, or early in the next quarter.