California-based unit employs about 350 people and is expected to generate $150M in revenue this year.
GE Aviation is selling a business that makes thrust reverser actuation systems for commercial airliners to Woodward Inc. for $200 million.
According to a Dow Jones report, the operations GE is selling are part of the integrated mechanical systems business of GE’s Aviation Systems unit, which is headquartered in Cincinnati, OH. Woodward says the California-based business it is buying employs about 350 people and is expected to generate $150 million in revenue in 2013, slightly increasing its 2013 profits. The actuation systems are used on Boeing 737, 747, 777, and Airbus A320 models, among others.
Article edited from a report by Jon Newberry, from the Business Courier.