Hollister’s Pacific Scientific not part of $685M sale
As the sale is set to close on Meggitt Corp.’s $685 million
purchase of Pacific Scientific Aerospace, the Pacific Scientific
Energetic Materials Company facility on Union Road is not part of
the transaction, according to a document about the sale and
confirmed by a local company official.
Danaher Corp. (DHR) announced in January that it had signed a
definitive agreement to sell Pacific Scientific Aerospace to
Meggitt PLC (MGGT).
Hollister’s Pacific Scientific not part of $685M sale
As the sale is set to close on Meggitt Corp.’s $685 million purchase of Pacific Scientific Aerospace, the Pacific Scientific Energetic Materials Company facility on Union Road is not part of the transaction, according to a document about the sale and confirmed by a local company official.
Danaher Corp. (DHR) announced in January that it had signed a definitive agreement to sell Pacific Scientific Aerospace to Meggitt PLC (MGGT).
Upon the closing, expected this quarter, Meggitt is set to pay $685 million to Danaher for the aerospace business – which supplies electric power, electric linear actuation, safety and security products to the commercial and military aerospace markets, according to a press release from January on the agreement. The aerospace business had revenues in 2010 of about $378 million.
Pacific Scientific Energetic Materials Company – with operations in Arizona and California, including the Hollister facility on Union Road that serves as one of San Benito County’s largest employers – is not part of the transaction, according to a document obtained by the Pinnacle. The Danaher Corp. businesses that are involved in the sale include Pacific Scientific HTL/Kin-Tech, Scientific Aviation Services, Securaplane Technologies, Joslyn Sunbank, OECO and Artus.
“We have no inside information on any of that,” said Marlene Martinez, a human resources official with the Hollister location. “Danaher as a corporation has not given us anymore information.”
Pacific Scientific in the Hollister area includes more than 200,000 square feet of space and the business here makes high-volume ordnance devices, electronic and laser systems, laser components and systems, aircrew safety systems and components, and active protection systems, according to its website.
Pacific Scientific Energetic Materials in 2003 bought the high-tech ordinance and explosives company McCormick Selph, which had owned the Hollister facility and others.
