Industrial conglomerate General Electric plans to buy the aviation business of Italian manufacturer Avio for $4.3 billion to grow its jet propulsion business and strengthen its supply chain.
December 21, 2012 at 12:00 AM
1 minute read
Industrial conglomerate General Electric plans to buy the aviation business of Italian manufacturer Avio for $4.3 billion to grow its jet propulsion business and strengthen its supply chain.
The Fairfield, Connecticut, company said Friday that it wants to build its supply chain as it ramps up engine production. The deal also gives GE a chance to offer Avio products outside the aviation industry, in power generation, oil and marine products.
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