Westinghouse Corp. Sells Unit to TCOM
From United Press International
PITTSBURGH —
Westinghouse Electric Corp. said it sold its tethered aerostat systems unit to a limited partnership of Craig Capital Corp. and MH Equity Corp., an affiliate of Manufacturers Hanover Corp. of New York.
Terms were not disclosed.
The sale to TCOM L.P. involves Westinghouse administrative and engineering operations in Hanover, Md., and a leased aerostat assembly and test facility in Elizabeth City, N.C. These units presently employ 120 workers.
“Westinghouse decided to divest its tethered aerostat systems activities because the systems are no longer in the mainstream of our electronic systems business focus,” said Milton Borkowski, general manager of Westinghouse’s Command and Control Divisions.
