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NORTHROP TO BUY AEROJET-GENERAL ELECTRONICS UNIT

The Northrop Grumman Corporation said yesterday that it would pay $315 million for the electronics and information systems business of Aerojet-General in a move to enhance its space sensors and battlefield management operation. Northrop, based in Los Angeles, said it would pay cash for the unit, which had 2000 revenue of $323 million and specializes in space-borne sensing for early warning systems, smart-weapons technology and ground systems that process data from space-based platforms. The deal, which is subject to regulatory approval, was expected to close during the summer, the company said. Northrop, the nation’s fifth-largest military contractor, said it did not anticipate making any layoffs after the business combination.

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