GE Aviation Systems in $62.5m deal
Cheltenham-based GE Aviation Systems' legacy fuel measurement business has been sold to BBA Aviation’s Legacy Support business, for $62.5m (£38.5m).
In addition to the purchase price, BBA Aviation is to make a further investment of approximately $7m (£5.08m) in working capital and fixed assets.
Simon Pryce, group chief executive of BBA Aviation, said: "This acquisition continues the exciting development of BBA Aviation's legacy support business. The strategic fit of this business within legacy support has benefits for customers and employees and is an excellent value creation opportunity for BBA Aviation."
GE Aviation Systems manufactures products that are installed in more than 6,200 active aircrafts, including A319/320, B777, Eurofighter Typhoon, AW101 and Hawk2.
GE Aviation Systems is currently located in three facilities in the UK, US and Singapore, all of which will be transferred to nearby BBA Aviation sites. The company will operate under the BBA Aviation Ontic brand following a "phased integration process", it was said.
