GE Aviation To Offload Part Of Its Aviation Manufacturing Arm

GE Aviation is to sell part of its aviation division to Woodward Inc for $200m. GE will divest its Cincinnati-based arm, which builds hydraulic thrust reverser actuation systems for commercial airlines. It is thought the division employs 350 workers. Woodward will fund the purchase through cash and committed financing options, which currently include a $400m revolving credit facility.

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