Andrew Corporation, a global leader in communications systems and
products, has acquired Precision Antennas Ltd., a Stratford,
England-based provider of antennas for terrestrial and satellite
Under the agreement, Andrew paid approximately $26 million (15 million
GBP) to acquire the subsidiary of UK-based Cobham plc. Precision
Antennas designs and produces microwave antennas for use in carrying
point-to-point radio signals, primarily for cellular network back-haul.
In addition, the company produces couplers and earth station antennas.
Its products are used today by customers primarily in the European
"Precision Antennas is a strong complement to Andrew's existing
portfolio of antenna systems and products," said John DeSana, group
president, Antenna and Cable Products Group, Andrew Corporation. "The
addition of Precision strengthens Andrew's market position in microwave
antennas and enhances our ability to support the future needs of
existing and new customers."
Precision Antennas had calendar year 2005 sales of $46 million and the
transaction is expected to be slightly accretive to earnings over the
next 12 months. Precision Antennas' approximately 500 employees at three
sites in Stratford now are part of Andrew's Antenna and Cable Products
"Precision Antennas is a strong business which has grown rapidly over
the last two years under Cobham's ownership," said Tom Burwood, managing
director, Precision Antennas. "The combination of Andrew's global focus
on supporting customers' communications networks and our excellent
products gives me confidence we can go from strength to strength."
About Andrew Corporation
Andrew Corporation (NASDAQ:ANDW) designs, manufactures, and delivers
innovative and essential equipment and solutions for the global
communications infrastructure market. The company serves operators and
equipment manufacturers from facilities in 35 countries. Andrew (www.andrew.com),
headquartered in Westchester, IL, is an S&P 500 company founded in 1937.
Forward Looking Statements
Some of the statements in this news release are forward looking
statements and we caution our stockholders and others that these
statements involve certain risks and uncertainties. Factors that may
cause actual results to differ from expected results include
fluctuations in commodity costs, the company's ability to integrate
acquisitions and to realize the anticipated synergies and cost savings,
the effects of competitive products and pricing, economic and political
conditions that may impact customers' ability to fund purchases of our
products and services, the company's ability to achieve the cost savings
anticipated from cost reduction programs, fluctuations in foreign
currency exchange rates, the timing of cash payments and receipts, end
use demands for wireless communication services, the loss of one or more
significant customers, and other business factors. Investors should also
review other risks and uncertainties discussed in company documents
filed with the Securities and Exchange Commission.