Key facts
- Honeywell Aerospace CEO Jim Currier views GE Aerospace's planned $12 billion acquisition of Consolidated Precision Products (CPP) as positive for the industry.
- Currier stated that Honeywell Aerospace does not compete with CPP and has no portfolio overlap.
- Honeywell Aerospace has been bringing outsourced capabilities back in-house over the last two years.
- Currier sees further opportunities for Honeywell Aerospace to bring outsourced capabilities in-house in the short and long term.
Honeywell Aerospace CEO Jim Currier stated on Tuesday that GE Aerospace's planned $12 billion acquisition of Consolidated Precision Products (CPP) is "positive for the industry overall." Speaking at the Morgan Stanley Laguna Conference, Currier noted that the types of parts CPP supplies to GE are different from those Honeywell receives, indicating no direct competition or portfolio overlap between the two companies.
Aerospace companies are increasingly acquiring smaller manufacturers of in-demand parts or bringing production capabilities in-house to address supply chain struggles amid strong demand from planemakers seeking to increase commercial jet output. GE Aerospace announced its deal to acquire CPP earlier this month to help alleviate jet-engine supply bottlenecks.
Currier added that Honeywell Aerospace has been working to bring back some core technologies and capabilities that were previously outsourced, a process that has been ongoing for the last two years. He believes there are further opportunities to bring outsourced capabilities in-house in both the short and long term.