GE Aviation ready to look at acquisitions as it eyes growth

Reuters2021-11-16

DUBAI (Reuters) -GE Aviation is ready to look at acquisitions to top up its portfolio with technologies that could help it shape the future of flight, without waiting for a planned break-up of its ...

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chqngchang
2021-11-16
chqngchang
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- Melvin888:
  For the future

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the opportunities are there within our ecosystem of aerospace and defense so there will be plenty of opportunities for growth,\" Slattery said.\nHe stressed the world's largest aero engine maker felt under \"no undue pressure\" to make external investments.\nGeneral Electric (GE) last week announced plans to spin off its businesses into three public companies, marking the end of the 129-year-old conglomerate.\nThe Boston-based company will separate the healthcare company in early 2023. It will combine GE Renewable Energy, GE Power and GE Digital and spin off the business in early 2024.\nFollowing the split, it will become an aviation company, helmed by Chairman and Chief Executive Larry Culp.\nThe aviation company will inherit GE's other assets and liabilities, including its runoff insurance business.\nSlattery said GE Aviation had not been placed under any restrictions by Culp or the board limiting its ability to look at adjacent technologies \"or other inorganic opportunities\" - as long as they fit the strategy and have a good business case.\n\"If they do, we are not time-bound in terms of waiting until the spin-offs occur,\" Slattery said.\nBROADER APERTURE\n\"I think it is probably fair to say the opportunities to broaden the aperture ... probably run deeper and wider in our systems business than they would in inorganic (acquisition) opportunities on the commercial or military engine front.\"\nAnalysts say high-tech systems and associated technologies are key to the future of aircraft which will see a more seamless integration between powerplants and airframes than in the past.\nGE Aviation's main competitor in engines for in-demand narrowbody commercial jet engines and in military jet engines, Pratt & Whitney, is part of the Raytheon Technologies conglomerate that combines a broad slate of aircraft systems.\nIn the past three years, Culp has focused on reducing debt by selling assets.\nAfter a $30 billion deal in March to merge GE's jet-leasing unit with Ireland's AerCap, Culp said GE would look to \"play more offense\" to grow its industrial business.\nSince then, the company has pursued \"bolt-on\" acquisitions in the healthcare space.\nGE and French partner Safran have announced proposals for a new open-fan jet engine that would include some hybrid-electric power, while electrification is seen as one promising path for decarbonisation of smaller aircraft.\nCurrent-generation engines and aircraft systems are already interconnected to a growing extent, generating service revenues.\nSystems and other items generated about $4.5 billion in revenue in 2020, accounting for about one-fifth of GE Aviation's revenue. The share went up from 13% in 2019 as revenues from commercial engines and services were depressed by COVID-19.\nGE has not described the new structure in detail.\nAsked about his role after the planned GE break-up, Irish-born Slattery said GE Aviation would continue to exist as a unit within an aero-focused GE and that he would continue to run it under Culp after joining from Brazil's Embraer last year.\nGE would also independently hold equity interests in AerCap and Baker Hughes as well as a number of legacy liabilities that would be managed independently of GE Aviation, he said.\n\"I am excited about the opportunity to continue to work with Larry in the years ahead and to learn from him and to fly his wing and let him fly my wing,\" Slattery said.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":871148177,"gmtCreate":1637041780613,"gmtModify":1637041780718,"author":{"id":"3582358454168309","authorId":"3582358454168309","authorIdStr":"3582358454168309","name":"chqngchang","avatar":"https://static.tigerbbs.com/b56233832049ceeac966ba711e0e1f75","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/871148177","repostId":1151089939,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6597909,"gmtCreate":1637042660925,"gmtModify":1637043021889,"authorId":3577938728188071,"author":{"id":3577938728188071,"authorId":3577938728188071,"name":"Melvin888","avatar":"https://static.tigerbbs.com/1f7e36200d6d8c6159f6d35c041d8e3e","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":871148177,"type":1,"supId":0,"prevId":0,"content":"For the future ","text":"For the future ","html":"For the future "}],"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":28,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.26.2","shortVersion":"4.26.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1151089939"}