CINCINNATI, Oct. 17 (UPI) -- BAE Systems Commercial Armored Vehicles LLC is being acquired by the The O'Gara Group, an Ohio-based global provider of security products and services.
Financial terms of the transaction were not disclosed but O'Gara said the acquisition was expected to close by the end of this year.
"We are pleased to have entered into an agreement to acquire BAE Systems Commercial Armored Vehicles," said Wilfred "Bill" O'Gara, chief executive officer of The O'Gara Group. "We look forward to continuing the growth of our commercial armoring business and expanding the transparent armor business.
"This acquisition not only restores our heritage, it also advances our position and agility in the commercial armor market."
BAE Commercial Armored Vehicles is part of BAE Systems Survivability Systems LLC. It armors selected vehicle models for both government and commercial customers and produces transparent armor for commercial and military markets. It was known as O'Gara-Hess & Eisenhardt Armoring Co. before its sale to Armor Holdings in 2001 and subsequent acquisition by BAE in 2007.
|Additional Security Industry Stories|
TEL AVIV, Israel, May 17 (UPI) --Nobel Energy of Houston, which discovered Israel's big gas fields in the eastern Mediterranean, is pressing the government to decide soon on an energy export policy as the prospect of an undersea pipeline to Turkey gains credibility.