Whittaker Corp. to Sell Porta Bella Project

Whittaker Corp. in Simi Valley has entered into an agreement to sell its Whittaker Porta Bella Project to Porta Bella Acquisition Co. for $10 million in cash, a $5-million promissory note and a contingent interest in the project.

“This sale completes our program of divesting our nonoperating assets and fully focuses Whittaker on its core aerospace operations,” Whittaker CEO Joseph F. Alibrandi said.

Myla D. Bobrow, president of Phoenix-based Porta Bella Acquisition, said the company will develop the 996-acre Saugus property into a mixed-use master-planned community service development.

Whittaker develops fluid control and fire safety systems for aerospace and industrial applications.