GE Aerospace Acquisition of CPP Wins Praise from Honeywell CEO
Honeywell Aerospace's CEO Jim Currier has hailed GE Aerospace's planned $12 billion acquisition of Consolidated Precision Products (CPP) as a 'positive' development for the industry.
The deal aims to address supply chain bottlenecks in the production of jet engines, which have seen demand surge due to planemakers increasing commercial jet output.
Currier, speaking at the Morgan Stanley Laguna Conference, noted that Honeywell Aerospace does not compete with CPP and has no overlap within their portfolios. He stated that he views the deal as a positive for the industry overall, citing the fact that GE receives different types of parts from CPP than those received by his own company.
Currier also revealed that Honeywell Aerospace has taken steps in recent years to bring back core technologies and capabilities it had outsourced between 2010 and 2019. However, he acknowledged that there is still more work to be done in this area, both in the short and long term.