L3Harris Technologies, a global aerospace and defense technology company, has announced its plans to generate USD1 billion through divestitures. The company aims to streamline its portfolio and focus on its core businesses, which include communication systems, space and airborne systems, and electronic systems.<\/p>\n
The decision to divest comes after the merger of L3 Technologies and Harris Corporation in 2019, which created L3Harris Technologies. The merger brought together two leading companies in the aerospace and defense industry, with a combined revenue of over USD17 billion. However, the merger also resulted in a complex portfolio of businesses that needed to be rationalized.<\/p>\n
L3Harris Technologies has already made progress in divesting non-core businesses. In 2020, the company sold its airport security and automation business to Leidos Holdings for USD1 billion. The sale included L3Harris’ ProScan, eXaminer, and ClearScan products, which are used for screening passengers and baggage at airports.<\/p>\n
The company has also announced its plans to sell its Military Training business, which provides simulation and training solutions for military personnel. The business generated approximately USD500 million in revenue in 2020. L3Harris Technologies has stated that it will use the proceeds from the divestitures to pay down debt and invest in its core businesses.<\/p>\n
The decision to divest non-core businesses is a common strategy among companies looking to streamline their operations and focus on their strengths. By divesting non-core businesses, companies can reduce complexity, improve efficiency, and allocate resources more effectively. This can lead to increased profitability and shareholder value.<\/p>\n
L3Harris Technologies’ focus on its core businesses is particularly relevant in the current global environment. The COVID-19 pandemic has had a significant impact on the aerospace and defense industry, with reduced demand for commercial aircraft and delays in government contracts. By focusing on its core businesses, L3Harris Technologies can position itself for long-term success in a challenging market.<\/p>\n
In conclusion, L3Harris Technologies’ plans to generate USD1 billion through divestitures is a strategic move to streamline its portfolio and focus on its core businesses. The company has already made progress in divesting non-core businesses and plans to continue this strategy in the future. By focusing on its strengths, L3Harris Technologies can position itself for long-term success in a challenging market.<\/p>\n
L3Harris Technologies, a global aerospace and defense technology company, has announced its plans to generate USD1 billion through divestitures. The company aims to streamline its portfolio and focus on its core businesses, which include communication systems, space and airborne systems, and electronic systems. The decision to divest comes after the merger of L3 Technologies and […]<\/p>\n","protected":false},"author":2,"featured_media":2527036,"menu_order":0,"template":"Default","format":"standard","meta":[],"aiwire-tag":[1383,436,19447,439,1573,22990,4492,28867,4493,11,1150,17,525,18,343,4139,20,790,3536,28742,23,1493,3548,724,217,29,219,797,5347,971,2335,26465,2174,5249,727,222,729,6226,2336,37,151,1400,3030,5483,5484,1324,980,3224,985,7697,7544,321,1504,374,322,7321,377,4004,1015,4435,50,51,54,2727,1514,1222,469,1226,56,168,169,57,749,5263,2216,58,1235,60,61,62,1429,692,291,3164,252,67,68,8155,694,1659,69,1064,1065,75,78,618,185,2241,2102,17164,1263,547,355,5,10,7,8,2501,2502,9793,1813,3155,767,88,192,5966,897,669,10059,1548,3853,6571,303,1362,6033,99,672,1555,200,100,1119,3888,780,636,4345,101,640,203,204,108,109,205,110,1128,111,3925,424,115,307,429,1730,9,124,125,6],"aiwire":[13973],"_links":{"self":[{"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/platowire\/2539725"}],"collection":[{"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/platowire"}],"about":[{"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/types\/platowire"}],"author":[{"embeddable":true,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/users\/2"}],"version-history":[{"count":0,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/platowire\/2539725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/media\/2527036"}],"wp:attachment":[{"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/media?parent=2539725"}],"wp:term":[{"taxonomy":"aiwire-tag","embeddable":true,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/aiwire-tag?post=2539725"},{"taxonomy":"aiwire","embeddable":true,"href":"https:\/\/platoai.gbaglobal.org\/wp-json\/wp\/v2\/aiwire?post=2539725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}