Litton announces plan to sell G.P. plant
GRANTS PASS -- Litton Industries Inc. has agreed to sell its Applied Technology Division, including a plant in Grants Pass, to Condor Systems for $120 million.
No changes were immediately announced for the local plant.
We do not have any current plans as of yet, said Rachel McCaw, a spokeswoman for Condor Systems, a defense contractor based in San Jose, Calif.
We're going to have a meeting on Nov. 4 that will lay out most of the plans about the plant and the division.
She said decisions on whether to keep the Grants Pass operation and its 200-plus employees separate or integrate it into Condor likely will be made at that time.
Litton makes electronic warfare guidance systems while Condor sells military defense equipment. Condor also is a major designer and builder of ships for the Navy and U.S. allies.
Negotiations had been going on for weeks.
We were considering the various strategic moves that we had at our disposal, said Randy Belote, spokesman for Litton in Washington D.C. After evaluating the situation, it was in the best interest of employees and for Litton overall to sell.
In the deal, Condor also picked up Litton's San Jose plant and its 400 employees.
The transaction will be completed in 60 days, pending governmental approval under antitrust laws, according to Belote.