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April 21, 2020

Raytheon sells Danbury precision optics business to Colorado company

Photo | Contributed Raytheon Co. CEO Gregory Hayes.

Newly minted Massachusetts defense manufacturer Raytheon Technologies Corp. has sold its space-based precision optics business in Danbury to a Colorado company, about a week after announcing company-wide pay cuts and furloughs.

The sale to AMERGINT Technologies Holdings Inc. comes less than a month after Raytheon Technologies officially became a company following a $180-billion merger between Raytheon and United Technologies Corp.

As part of the merger, Raytheon and UTC agreed to sell their precision optics business in order to get the blessing from the U.S. Justice Department.

Terms of the AMERGINT deal weren’t disclosed.

“We are proud to add Raytheon Technologies’ storied precision-optics franchise to the AMERGINT partnership as we build a generational asset that focuses on delivering high performance national security space technologies," Robert Basil, an AMERGINT board member, said.

AMERGINT is  a software company that makes products for military, intelligence and commercial space uses. Raytheon’s Danbury business operation makes precision electro-optical systems for national security-related space missions and defense purposes.

Raytheon last week announced pay cuts and furloughs across its workforce, with CEO Greg Hayes saying the company will cut pay by 10% for all salaried employees at corporate offices starting June 1, and subsidiaries Pratt & Whitney in East Hartford and Collins Aerospace.

Hayes said he requested Raytheon's board of directors cut his salary by 20% for however long employee pay is reduced. Employees whose pay is cut by 10% will receive up to 15 additional days off per year, Hayes said.

Hourly workers at Pratt and Collins will be furloughed due to reduced customer demand, Hayes said.

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