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Litton explores sale of unit
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October 20, 2000: 10:18 a.m. ET
Defense contractor considers sale of Advanced Electronics Group
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NEW YORK (CNNfn) - Litton Industries Inc. disclosed Friday it is considering selling its Advanced Electronics Group, which makes up its navigation and electronics warfare businesses.
Litton's board has authorized management to explore a sale. The Advanced Electronics Group consists of 12 divisions and had revenue of $1.6 billion in fiscal 2000.
Woodland Hills, Calif.-based Litton Industries (LIT: Research, Estimates), a defense contractor, is a leading builder of non-nuclear ships for the U.S. Navy and designs surface ships for government and commercial customers globally.
Litton Industries shares rose $1 to $46.75 early Friday. 
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Litton Industries
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