U.K.'s Meggitt set to acquire S-TEC

Meggitt Plc, the British aerospace and electronics group, will spend $24.2 million, or 1.4 times its aggregated 1999 sales, to acquire S-TEC Corp. of the U.S., and S-TEC Unmanned Technologies (SUTI). The Texas-based S-TEC produces aircraft flight control systems and instrumentation, aircraft radios...

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