Danaher to Sell Aerospace Unit for $685M

WASHINGTON ( TheStreet) -- Danaher ( DHR) signed a definitive agreement to sell its Pacific Scientific Aerospace business to MeggittU.K. aerospace company, for $685 million.

Pacific Scientific Aerospace supplies electric power, electric linear actuation, safety and security products to both the commercial and military aerospace markets. It had revenue in 2010 of about $378 million, Danaher said Tuesday.

Danaher said it expects the sale to close in the second quarter.

Danaher said its Artus business is not part of the sale of Pacific Scientific.

-- Written by Joseph Woelfel

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