GE Aerospace's CPP Acquisition Wins Praise from Honeywell Aerospace CEO

Honeywell Aerospace's CEO, Jim Currier, has expressed his positive view on GE Aerospace's planned $12 billion acquisition of Consolidated Precision Products (CPP).

Currier stated that the deal is 'positive for the industry overall' and noted that Honeywell Aerospace does not compete with CPP. He also mentioned that Honeywell Aerospace has taken steps to bring back core technologies and capabilities it had outsourced between 2010 and 2019.

The acquisition aims to address jet-engine supply bottlenecks, which have been a significant challenge for the industry. Castings and forgings are particularly difficult to mass-produce, leading to labor shortages and decreased production capacity.

Honeywell Aerospace has also been addressing these issues by sending skilled workers to its suppliers' factories, resulting in a 30% increase in output over the last 30-45 days. However, the company still faces challenges with around 70 suppliers that are not producing quality products on time.