Smiths Aerospace Sold To GE
Smiths Aerospace spokeswoman Jennifer Villarreal said, "It's an acquisition of a complementary business. It will expand both of the companies." That was a sentiment mirrored last week by GE Chairman Jeff Immelt, as both GE and Smiths assured that no layoffs or plant closures are planned.
Smiths Aerospace — formed 20 years ago with Smiths purchase of Lear Siegler — provides key parts for military and commercial aircraft such as the Joint Strike Fighter, Boeing 737 and the new 788, and the Airbus A320 and new A380. GE Aviation's principal offering is engines.
Acquisitions of companies in this segment recently have avoided the negative effects associated with large corporate consolidation. The acquisition of several General Dynamics assets in