In December 1999, BAE Systems purchased GEC's 51.6% share of CMC in a separate transaction. In February 2000 the company changed its name to BAE Systems Canada. In April 2001, ONCAP (an investment group comprising Onex Corporation and other investors) completed its purchase of BAE Systems Canada.
In December 1999, BAE Systems acquired GEC's majority stake in CMC through a separate transaction. The company then changed its name to BAE Systems Canada in February 2000. A year later, in April 2001, ONCAP (an investment group consisting of Onex Corporation and other investors) finalized the acquisition of BAE Systems Canada.