RENK completed the acquisition of Combat Propulsion Systems business of L3Harris for $400m.

RENK, a German industrial company headquartered in Augsburg, completed the acquisition of Combat Propulsion Systems business of L3Harris, an American technology company, defense contractor and information technology services provider, for $400m. "With today’s announcement, we have now completed or announced divestitures of businesses with a combined $1.4bn of revenue for $2.5bn in expected proceeds, and our portfolio shaping process is ongoing. These agreements place our Military Training and Combat Propulsion Systems and related businesses with well-suited buyers, while positioning L3Harris to further focus on its core technologies and execute its strategic priorities," William M. Brown, L3Harris Chairman and CEO.