DETROIT – Takata Corp. has announced it is buying both the BAE Systems Safety Products Inc. and Schroth Safety Products GmbH businesses from BAE Systems for cash consideration of approximately $32 million.
The businesses include operations in Pompano Beach, Fla., and Arnsberg, Germany, and employ approximately 150 people who design and manufacture occupant restraints and safety products that are utilized across commercial and defense ground and aerospace platforms.
The purchase of the Safety Products and Schroth businesses is conditional, among other things, upon receiving certain regulatory approvals and is expected to close during the first quarter of 2012.
