Re: GE aerospace

From:         kls@ohare.Chicago.COM (Karl Swartz)
Organization: Chicago Software Works
Date:         02 Dec 92 03:49:50 PST
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In article <airliners.1992.62@ohare.Chicago.COM> (Derek H Cedillo) writes:
>In article <airliners.1992.51@ohare.Chicago.COM> (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

>Is there going to be some work done by GE somewhat autonomously
>still in the biz?

Yes, Aircraft Engines Div.

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