Bellevue-based Esterline announced yesterday that it has bought Palomar Products, a Southern California maker of secure-communications products for the U.S. military.

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Bellevue-based Esterline announced yesterday that it has bought Palomar Products, a Southern California maker of secure-communications products for the U.S. military.




Esterline, a manufacturer specializing in aerospace and defense, did not say how much it was paying for privately held Palomar. A spokesman said the company did not normally pay more than 1.5 times sales, which in this case would be $37 million. Palomar has 105 employees and annual revenue of $25 million.




Since 1996, Esterline has bought about 30 companies or product lines that have added more than $250 million in annual revenue. Last fall, Esterline announced plans to sell stock to raise an estimated $111.7 million for additional acquisitions.




Esterline Chief Executive Robert Cremin said in a statement that his company hopes to accelerate Palomar’s transition into commercial products.



Boeing



Workers in Wichita get notice of layoff




More than 1,100 Boeing Wichita, Kan., workers out of a total of about 9,300 received notice Friday and Saturday that they will no longer have a job when Onex completes its purchase of the plant’s commercial operations June 16.




Onex agreed earlier this year to buy the Wichita plant as well as plants in Tulsa and McAlester, Okla.



Wine industry



Trade groups name new director




Robin Pollard has been named executive director of the Washington Wine Commission and Washington Wine Institute.




Pollard, who previously coordinated former Gov. Gary Locke’s successful bid to win Boeing’s 787 factory, takes up her new role July 11.




She also has headed the economic-development division of the state Department of Community, Trade and Economic Development and was director of the state tourism office.




The Wine Commission and Wine Institute have lacked a permanent executive director since Jane Baxter Lynn resigned abruptly in March.



CitiFinancial



Bank announces loss of data tapes




CitiFinancial, the consumer-finance division of Citigroup, announced yesterday that it has begun notifying some 3.9 million U.S. customers that computer tapes containing information about their accounts have been lost.




Citigroup, which is based in New York, said the tapes were lost by a courier in transit to a credit bureau.




The bank said the tapes contained information about both active and closed accounts at CitiFinancial’s branch network. It said they did not contain information from CitiFinancial Auto, CitiFinancial Mortgage or any other Citigroup business.




The Secret Service was told of the loss of the tapes on May 27 and began investigating.




Compiled from Seattle Times business staff, The Wichita Eagle and The Associated Press