General Electric Makes purchase in Grand Rapids

[DwntwnGeo]

"General Electric Co., the world's largest aircraft engine maker, agreed Monday to buy the aerospace business of Smiths Group PLC, Britain's third-largest aerospace company, for $4.8 billion in cash."

"Smiths US Corporate Office is based in Grand Rapids and provides the latest aviation electronics technology with systems capabilities in flight management, data management, mission systems, and navigation/guidance."

Do you think General Electric will bring additional workers/plants to the Grand Rapids area? There is a lot of vacant land around the Smiths Aerospace site that could be developed. Maybe General Electric would be a possible tenant for an additional large building downtown? Or could this be a bad thing and GE moves Smiths Aerospace out of Grand Rapids closer to their own operations? What are your thoughts?

The complete WoodTV article can be read here:

http://www.woodtv.com/Global/story.asp?S=5939348

[egrguy]

They're also planning to sell off their entire GE Plastics Division (10B) This is some major restructuring going on, however, I would tend to believe that it could be beneficial. I haven't heard GE in the past moving units they've purchased to their base in the NE. This purchase, could lead to greater investment in Smiths, plus, perhaps farfetched a bit, but as the company is now American owned, that this location here icould be named the HQ for Smiths.

[GRDadof3]

Smiths employees see a sweet deal

CASCADE TOWNSHIP -- Deep pockets. Tight military and commercial aviation ties.

Those are the two advantages that would make the sale of Smiths Aerospace to General Electric Aviation a sweet deal for its employees, according to industry watchers. '

Makes me feel a little better. I keep envisioning Mannesmann Dematic's near destruction of the top-notch company Rapistan.