Newsgroups: sci.aeronautics.airliners Path: news From: kls@ohare.Chicago.COM (Karl Swartz) Subject: Re: GE aerospace X-Submission-Date: Wed, 2 Dec 1992 10:33:34 GMT References: <airliners.1992.51@ohare.Chicago.COM> <airliners.1992.62@ohare.Chicago.COM> Message-ID: <airliners.1992.69@ohare.Chicago.COM> Approved: kls@ohare.Chicago.COM Organization: Chicago Software Works Sender: kls@ohare.Chicago.COM X-Submission-Message-ID: <1992Dec2.103334.15730@ohare.Chicago.COM> Date: 02 Dec 92 03:49:50 PST In article <airliners.1992.62@ohare.Chicago.COM> cid@athena.mit.edu (Derek H Cedillo) writes: >In article <airliners.1992.51@ohare.Chicago.COM> duchad@rpi.edu (David Benedict Ducharme) writes: >>I was in an argument the other day that I hope that can be cleared up here >>was GE aerospace sold straightout, or was it merged with MM. >According to UPI reports on the dealing the whole deal is worth $3.05 Billion >In the deal GE Gets $1 billion in convertible preffered stock. Right. GE sold GE Aerospace, based in Valley Forge, PA, and GE Government Services, based in Cherry Hill, NJ, to Martin Marietta, but got a substantial chunk of MM in return as well as two seats on the MM board. The agreement also includes provisions for a fair amount of work to continue at GE R&D. So, while it was an outright sale, GE has by no means washed their hands of the whole thing. >Does anyone know what is to become of the Ft. Worth, IN plant? >I didnt see it listed in the buisness locations to be >taken over by MM. What division is that? Note that the transaction did *not* include the GE division most relavent to this newsgroup, namely GE Aircraft Engines, based jointly in Evendale, OH (commercial) and Lynn, MA (millitary). >Is there going to be some work done by GE somewhat autonomously >still in the biz? Yes, Aircraft Engines Div. -- Karl Swartz |INet kls@ditka.chicago.com 1-415/854-3409 |UUCP uunet!decwrl!ditka!kls |Snail 2144 Sand Hill Rd., Menlo Park CA 94025, USA Send sci.aeronautics.airliners submissions to airliners@chicago.com