BAE Systems to sell high performance materials business

8th Jun 2012 15:47

BAE Systems, the FTSE 100 defence, security and aerospace group, has entered into an agreement to sell the assets which form the BAE Systems Tensylon High Performance Materials business, which develops and manufactures a leading protective material. The assets will be sold to E. I. du Pont de Nemours for a cash consideration of $18m. The sale is expected to close in the third quarter of the current calander year. The share price fell 0.57% by 278.10p, in line with a 0.62% decline in the Aerospace and Defence sector. NR