HUGHES AIRCRAFT COMPANY
Public Relations Department
1100 Wilson Blvd
Arlington, VA 22209
Contact: Dave Shea
(703) 525-0540 fax
FOR IMMEDIATE RELEASE
HUGHES ACQUIRES ALLIANT'S MARINE SYSTEMS GROUP
LOS ANGELES, March 3, 1997 -- Hughes Electronics Corporation has acquired the Marine Systems Group (MSG) of Alliant Techsystems for $141 million in cash. MSG is now a part of the Naval and Maritime Systems of Hughes Aircraft Company, a unit of Hughes Electronics.
Based in Mukilteo, Wash., MSG has approximately 650 employees in six states. The acquisition includes the Mukilteo facility and the assumption of leased facilities in California, Maryland, Hawaii, Rhode Island, Texas and Washington. No change in the workforce is anticipated. Hughes announced its intent to acquire MSG in December.
"We are pleased to have the Marine Systems Group as part of the Hughes Aircraft team. The union of Marine Systems with our Naval and Maritime Systems unit means an expanded market base as well as superior capabilities and systems for our domestic and international customers," said John Weaver, executive vice president of Hughes Electronics and president and chief operating officer of Hughes Aircraft.
MSG manufactures the Mk 46, MK 50 and NT 37 torpedoes, the Advanced Deployable Underwater Surveillance System, and the SLQ-48 Mine Neutralization System for anti-mine warfare.
Major programs of the Hughes Naval and Maritime Systems business unit, which employs about 1,100 people at facilities in Fullerton and San Diego, Calif., and Rhode Island, include the SURTASS ocean surveillance system, the ALFS dipping sonar system, the ADCAP torpedo, the Surface Search Radar, the Advanced Combat Direction System, the Ship Self Defense System, the UYQ-21 Display System, and the LPD-17 Ship System.
Hughes Electronics is a world leader in the design, manufacture and marketing of advanced electronic systems. The earnings of Hughes Electronics are used to calculate the earnings attributable to GMH (NYSE symbol) common stock.