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Rockwell Collins to Sell Optical Products Subsidiary

Rockwell Collins (NYSE: COL  ) is soon to be one asset lighter. The company announced it has reached an agreement to sell Kaiser Optical Systems, its unit that concentrates on spectrographic instrumentation and holographic technology. The buyer is privately held Swiss concern Endress + Hauser, and the terms of the deal were not made public.

The move contributes to a broader attempt by Rockwell Collins to become a leaner enterprise. In the press release announcing the news, the company quoted its CEO, Kelly Ortberg, as saying that it "is part of an overall strategy to accelerate our focus on growth opportunities in our addressed markets."

Rockwell Collins anticipates that the sale will close early in its fiscal 2014.

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9/30/2016 12:46 PM
COL $84.50 Up +0.27 +0.32%
Rockwell Collins CAPS Rating: ****