Gould said it was selling a defense systems unit.
The Illinois-based electronics maker announced plans to sell its defense systems division, which accounts for more than a quarter of the company’s annual revenue. Gould Chief Executive James McDonald said the company wanted to “concentrate its financial, people and marketing resources on those areas of commercial electronics that offer the greatest growth opportunities.†Gould’s defense business earned $37.3 million on sales of $400.3 million last year. It includes eight plants and employs 5,000 people, producing avionics, military communications and anti-submarine warfare equipment.
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