Wartsila Corp. has completed its acquisition of L-3 Communications‘ (NYSE: LLL) Marine Systems International business for approximately $324 million.
“We continue to evaluate additional portfolio-shaping opportunities that strengthen our ability to deliver innovative solutions in our core markets, increase the company’s operating margin and enhance our future growth profile, ” Strianese added.
Wartsila has assumed $66 million in MSI employee pension liabilities as part of the agreement.
The sale brought in about $318 million for L-3, based on a $357 million forward contract that was disclosed in December.
L-3 reported $12.1 billion in sales during its 2014 fiscal year.