Moog Inc has signed an agreement to acquire the assets of Northrop Grumman Corporation’s Poly-Scientific Division, which manufacturers motion control and data-transmission devices. Its principal products are electrical and fibre-optic slip rings, brushless DC motors and electromechanical actuators.
According to Moog, Poly-Scientific has annual sales in excess of $130 million and employs about 1,000 people in Blacksburg, Virginia, Springfield, Pennsylvania, and Murphy, North Carolina.
Poly-Scientific was founded 50 years ago and was acquired in the early 1960’s by Litton Industries, Inc. Litton subsequently acquired Clifton Precision and merged it with Poly-Scientific Division. Northrop Grumman acquired Litton Industries in 2001.
Presuming receipt of all required regulatory approvals, Moog expects the acquisition will close on September 29, 2003.
‘Poly-Scientific brings to Moog a broad portfolio of products and technologies, many of which are an excellent fit with Moog’s current product base,’ said R. T. Brady, Chairman & C.E.O. ‘We look forward to a long and productive association with the folks who make up the Poly-Scientific organisation.’