Harris to sell Aerostructures unit to Albany International

• Albany (NYSE:AIN) has agreed to acquire Harris' (NYSE:HRS) Aerostructures business for an enterprise value of $210M, including $187M in cash at closing and the assumption of a $23M capitalized lease.
• "Proceeds from the transaction will be used to pay down debt," Harris CEO William Brown declared.
• The Aerostructures unit is included in the company’s Electronic Systems segment and had calendar 2015 revenue of $77M.