Dallas, Texas 08/06/2013 (Financialstrend) – More recently, the acquisition of the Avio S.p.A’s aviation unit was completed by General Electric Company (NYSE:GE). Avio S.p.A is an Italian based company whose aviation unit is the provider of the both the aviation components as well as systems for the usage of civil and military purposes. However, the space unit of Avio was not included in this acquisition by General Electric Company. The acquired aviation has been renamed as ‘Avio Aero’ which will be acting as the General Electric Company’s Aviation business. The headquarters of Avio Aero would be retained in Turin of Italy itself.
This unit is known to employ a total of about 4,700 employees out of which around 4,000 employees were based in Italy. Avio Aero would be operating its plants in the countries like Poland, Brazil as well as China in addition to Italy. With the help of this fresh acquisition, General Electric Company would be aiming to pursue novel opportunities in the business sectors like oil and marine products as well as in the power generations. On the whole, Avio Aera is believed to improve both the global capabilities as well as the engineering strength of General Electric Company.
With the large portfolio of clients, General Electric Company would be aiming to strengthen the market position of Avio Aero on the other hand. This is possible by placing Avio Aero as the supplier to both the additional industrial as well as the aviation companies. Already, Avio Aero is supplying the contents for the engines of General Electric Company that range from smaller engines for helicopters to the larger engines for the commercial aircrafts.
The franchise finance business of GE Capital has made an announcement that it has offered the financing to Roark Capital Group’s affiliate for the purpose of acquiring Ale House of Miller. In this financing, GE was seen serving as the administrative agent and GE capital markets being the joint book-runner and lead arranger.