Fairchild Industries said it will restructure.

The Chantilly, Va.-based company said the plan calls for the sale of the company's aircraft manufacturing divisions and other industries. The plan is expected to raise more than $150 million. "Following the planned divestitures, Fairchild's core businesses will consist primarily of space systems, avionics, defense electronics, related aerospace subsystems and aerospace fasteners," said Paul E. Wright, president and chief operating officer.

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