What Happened
Engine Maker Seeks To Expand Supplies Through Strategic Acquisitions
GE Aerospace has announced its intention to acquire Consolidated Precision Products, a castings supplier, for $11.75 billion. The deal aims to expand supplies of precision-cast metal parts used in jet engines. According to Chief Financial Officer Rahul Ghai, the acquisition is a unique situation and not a blueprint for broader integration. GE Aerospace expects to improve CPP’s delivery performance and expand production. The company also reported a 50% increase in GEnx engine deliveries in the second quarter. This story was originally published by Reuters.