Business Services Industry
Edina, Minn.-Based Alliant Techsystems Buys Virginia Aerospace Firm.
Knight Ridder/Tribune Business News, November, 2003
By Jennifer Bjorhus, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Nov. 25--Defense contractor Alliant Techsystems Inc. in Edina has entered the hypersonic flight business, buying two divisions of Virginia-based Allied Aerospace Industries Inc. in a roughly $40 million cash deal that closed last week.
While the acquisition isn't expected to generate significant new sales for Alliant Techsystems initially, the company considers it strategic because the special "scramjet" engines the businesses are developing likely will power some of the next generation of aircraft being planned by the government.
In theory, NASA's lightning-fast hypersonic aircraft could carry the precision weapons that Alliant Techsystems makes....
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