BELLEVUE, Wash. (AP) -- Esterline Corp. said on Wednesday that it has sold its subsidiary Pressure Systems Inc. to sensor-maker Measurement Specialties Inc.
Esterline is an aerospace and defense contractor, and Pressure Systems makes specialized pressure sensors, mostly for environmental and industrial uses, although it also makes sensors used in wind tunnels. Esterline said PSI was one of its smaller operations and is based in Hampton, Va.
Esterline said it expects to book an after-tax gain on the sale of about $10.4 million, or 34 cents per share. The company did not include other details of the transaction.
Measurement Specialties shares rose 17 cents to $15.62 in aftermarket trading. Esterline shares had fallen 18 cents to close at $53.89 before the announcement.
