BELLEVUE, WA--(MARKET WIRE)--Nov 3, 2008 -- Esterline Corporation (NYSE:ESL - News) today announced the divestiture of its UK-based Muirhead Aerospace subsidiary to AMETEK, Inc. (NYSE:AME - News).

Robert W. Cremin, Esterline CEO, said, "...AMETEK is acquiring an excellent manufacturer of specialized motion technology with a reputation in the industry for innovation and high quality."

Muirhead, one of Esterline's smaller operations, designs and manufactures a range of specialized motion technology including precision electro-mechanical actuators and servo components for a wide variety of aircraft, land vehicles, ships and missiles. The operation also provides maintenance, repair and overhaul services to the UK's aviation industry.

Esterline anticipates an after-tax gain on the sale of about $16 million. The gain will be reported in the company's first quarter, ending January 30, 2009.

Esterline is a $1.5 billion specialized manufacturing company serving principally aerospace and defense markets. Esterline operates in three business segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials.

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