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March 12, 2014
08:01 EDTLLLL-3 Communications reorganizes business segments
L-3 Communications has reorganized its business segments to better align its organizational structure with customer priorities and increase operational efficiencies. The new structure is effective immediately. L-3’s structure now consists of these four business segments: Aerospace Systems, Electronic Systems, Communication Systems and National Security Solutions. John C. McNellis has been named president of Aerospace Systems, which combines the operations of the former Platform & Logistics Solutions segment with Intelligence, Surveillance and Reconnaissance Systems. Steve Kantor continues in his role as president of Electronic Systems, which includes all previous businesses except Microwave Products, which is now part of Communication Systems. John S. Mega has been named president of Communication Systems, which combines the operations of Microwave Products, previously part of the Electronic Systems segment, with Networked and Secure Communications Products, previously part of the former C3ISR segment. Les A. Rose continues in his role as president of National Security Solutions, which remains unchanged. The realignment is not expected to have any impact on the company’s consolidated 2014 financial guidance.
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December 16, 2014
06:12 EDTLLLL-3 Communications to sell MSI business to Wärtsilä for EUR285M
L-3 Communications announced that it has entered into a definitive agreement with Wärtsilä to sell its Marine Systems International, or L-3 MSI, business. The transaction is anticipated to be completed in the Q2 of FY15, subject to customary closing conditions and regulatory approvals. The transaction, with a base purchase price of EUR285M, is subject to customary adjustments and an estimated reduction of EUR60 million for L-3 MSI employee pension-related liabilities to be assumed by Wärtsilä.

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