Baltimore-area UAV maker sold

United Industrial Corporation of Hunt Valley has been sold to Textron, Inc. of Rhode Island (more here and here.) United’s subsidiary AAI is responsible for the manufacture of the Shadow UAV (unmanned aerial vehicle pictured in a Defense Dept. photo at left) that has been used extensively in Afghanistan and Iraq.

Textron has a variety of defense contracts it would appear. They also make Bell helicopters, Cessna airplanes and E-Z-Go golf carts. The deal is reportedly worth $1.1 billion with United shareholders getting $81 a share. United’s revenue has increased since 2001 to near the $700 million mark. United’s stock rose 6 percent yesterday while Textron’s fell 2 percent after the deal was announced. AAI recently purchased Aerosonde which flies commercial UAVs like ones that NOAA has used to fly through tropical storms.

All 1,400 employees in Hunt Valley are expected to keep their jobs as United is integrated into Textron.