ECA to sign an unilateral commitment to purchase the ELTA company
Friday, August 05 2016
ECA announces that it has entered into exclusive negotiations with AREVA S.A. and AREVA TA for the acquisition of the ELTA company.
ELTA is a specialist in electronic security equipment and systems for the aeronautic and space industries. In particular, ELTA produces on-board aircraft distress beacons for commercial aircraft. Located in Toulouse, the company has 92 employees and achieved revenue of €15.6 million in 2015.
The next steps of the process will consist of consultation with the employee representative bodies of the companies concerned, and the negotiation of the terms and conditions of the asset sale contract, with the objective of entering into the contract before the end of 2016.