GE Aviation Systems.
Smiths Aerospace was formerly one of four business units of Smiths Group plc., an engineering company and constituent of the FTSE 100 share index. However, it was announced on January 15, 2007 that Smiths Group was divesting Smiths Aerospace to General Electric for US $4.8 billion. Smiths Aerospace, which was an important supplier, became an operating subsidiary of GE Aviation. This acquisition reportedly gives the combined unit the clout to resist pricing pressures from its two largest customers, Boeing Commercial Airplanes and Airbus. Analysts further assert that it will enable General Electric to acquire assets similar to those it desired in its failed bid for Honeywell in 2000. GE Aviation closed the transaction on May 4, 2007.