GE Aviation
Smiths Group and General Electric announced on January 15, 2007, that the former was divesting Smiths Aerospace to the latter for GBP£2.4 billion (US$ 4.8 billion). GE Aviation closed the transaction on May 4, 2007. Smiths Aerospace, which was an important supplier, became an operating subsidiary of GE Aviation known as GE Aviation Systems. This acquisition will reportedly give the combined unit the clout to resist pricing pressures from its two largest customers, Boeing Commercial Airplanes and EADS/Airbus. Analysts further assert that it enables General Electric to acquire assets similar to those it desired in its failed bid for Honeywell in 2000.