French Aerospace Deal Create's World's Third-Biggest Supplier
A deal between two French aerospace companies create the third biggest aerospace supplier.
An aerospace deal has French aircraft engine maker Safran (SAFRY) agreeing to buy Zodiac Aerospace, a maker of plane seats. The $9 billion deal marks another round of consolidation in aerospace suppliers. Zodiac has issued multiple profit warnings and has seen its share price slump. Safran is General Electric's (GE) - Get Report partner in an alliance that produces engines for short haul jets. According to Bloomberg, the deal will create the world's third biggest aerospace supplier behind GE and United Technologies , which owns Pratt & Whitney.
