Esterline Facts
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Esterline is a specialized manufacturing company serving aerospace and defense markets: |
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Headquarters: Bellevue, WA
Founded: 1967 |
Ticker: NYSE: ESL
Employees: More than 9,000 |
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Building Blocks
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Business Fundamentals |
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Business Mix |
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Esterline’s breadth and depth of market and customer coverage is a fundamental strength:
- No single program represents more than 5% of Esterline’s total revenue.
- #1 or #2 market share in target niches.
- Financially stable, solid balance sheet, and strong banking relationships.
- Esterline is focused on being a leading specialty niche supplier to the aerospace and defense industry.
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Esterline's markets generally
breakdown as follows:
A) Defense/Space 40%
B) Commercial Aerospace 40%
C) Industrial Applications 20% |
Acquisition Strategy
Esterline is a leading consolidator of Tier 3 suppliers in aerospace/defense markets:
- Over thirty companies and/or product lines.
- After first-year integration, all acquisitions have been accretive to earnings.
- Not an “acquisition machine"; every deal must make sense to customers and shareholders.
Acquisition Highlights
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December 2010
January 2009 |
Eclipse Electronic Systems, a designer and manufacturer of high-performance, embedded digital receiver products and signal processing components.
Racal Acoustics, a world leader in ruggedized military communications equipment. |
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December 2008 |
NMC Aerospace (Nylon Molding Corporation), a designer and manufacturer of specialized fasteners. |
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February 2007 |
CMC Electronics Inc., supplier for the design and mnufacture of high-tech aviation electronics, including global positioning and flight management systems. |
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March 2006 |
Wallop Defence Systems Ltd., the leading international producer of military countermeasure flares. |
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December 2005 |
FR Countermeasures, Inc. |
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December 2005 |
Darchem Holdings Limited, a global leader in the manufacture of thermally engineered components |
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June 2005 |
Palomar Products, Inc., a producer of secure military communications products. |
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July 2004 |
Leach International, a producer of high-performance electromechanical relays, and solid-state switching devices. |
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Lean Manufacturing
All Esterline companies embrace lean manufacturing practices
- Savings from lean activities fund competitiveness
- Leverages the brain power of our employees
- Enables us to absorb acquisitions more readily
- Gets people involved at all levels of employment
Seasoned Management
Esterline has eight officers who average eighteen years working together.
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Officer |
Position |
Tenure |
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Robert W. Cremin |
Chairman |
33 Years |
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Brad Lawrence |
President and CEO |
7 Years |
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Robert D. George |
Vice President, CFO, Secretary, & Treasurer |
12 Years |
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Marcia J. Mason |
Vice President of Human Resources |
16 Years |
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Frank Houston |
Group Vice President |
25 Years |
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Stephen R. Larson |
Vice President of Strategy & Technology |
31 Years |
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Gary Posner |
Corporate Controller and Chief Accounting Officer |
9 Years |
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Al Yost |
Group Vice President |
10 Years |
Solutions that Work
Esterline is trusted for high-quality products for aerospace and defense customers and is increasingly a “go-to supplier” for tough problems.
Operations and Companies
Avionics & Controls
Technology interface systems, including lighted switches and displays, and pilot grips and wheels for commercial and military aircraft and military vehicles. Companies in this segment also manufacture technology products for secure communications systems, specialized medical equipment, and other high-end industrial applications.
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Avionics Systems
Montreal
Ottawa
Chicago |
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Control Systems
California
Illinois
Washington
Wisconsin |
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Interface Technologies
Idaho
Michigan
China
Germany |
Communication Systems
California
New Hampshire
Texas
United Kingdom |
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Sensors & Systems
High-precision temperature and pressure sensors, fluid and motion control components, and other related systems principally for aerospace and defense customers.
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Advanced Sensors
New York
France
United Kingdom |
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Power Systems
California
China
France |
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Advanced Materials
Process-related technologies, including high-performance elastomer products, used for military and commercial aerospace purposes, and combustible ordnance and electronic warfare countermeasure products.
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Engineered Materials
California
Massachusetts
United Kingdom |
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Defense Systems
Arkansas
California
North Carolina
Tennessee
United Kingdom |
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Metal Finishing
Washington |
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