Moog to acquire assets of Northrop Grumman division

Moog Inc., a manufacturer of precision control components and systems, has entered into an agreement to acquire the assets of Northrop Grumman Corp.'s Poly-Scientific Division. Poly-Scientific manufactures motion control and data-transmission devices and its principal products include electrical and fiber-optic slip rings, brushless dc motors, and electromechanical actuators.

Poly-Scientific employs about 1,000 people in three locations: Blacksburg, Virginia, Springfield, Pennsylvania, and Murphy, North Carolina. About two-thirds of Poly-Scientific sales come from aerospace and defense markets and the balance are industrial. Nearly half of the company's industrial products are used in medical equipment.

Moog expects to close the acquisition towards the end of September of 2003.