CLEVELAND, June 24 (UPI) -- GE Aviation is selling its Electromechanical Actuation Division to the TransDigm Group, a producer and supplier of aircraft components.
TransDigm said it will pay about $150 million in cash for the division and that the deal is expected to be completed soon, subject to regulatory approvals and customary closing conditions.
"The business fits well with our consistent strategy of acquiring proprietary aerospace businesses with significant aftermarket content," said W. Nicholas Howley, TransFigm's chairman and chief executive officer.
"Its products are on a number of commercial platforms with OEM and aftermarket growth opportunities. As a result, when combined with a softer military outlook, we expect the commercial content to rise as a percent of total revenue. Additionally, these highly engineered products will allow us to expand our content on a number of substantial platforms, and fit well with the TransDigm portfolio of products."
The acquired company manufactures proprietary, highly engineered aerospace electromechanical motion control sub-systems. Products include control electronics, motors, high-power mechanical transmissions and actuators used on civilian and military aircraft, including the Airbus 380, Boeing 737NG and 777, Sikorsky SH-60 and S-92 helicopters and Boeing's CH-47.
Once the acquisition is completed, it will be part of a new TransDigm entity, Whippany Actuation Systems LLC.
