General Electric Co. has completed the sale of a business that makes aircraft electronics, motors and other systems to aircraft parts maker TransDigm Group Inc. for about $150 million in cash.
The business, Electromechanical Actuation Division, was part of GE's aviation division. TransDigm had announced the deal last month.
Cleveland-based TransDigm said Monday that it will run the operations through a new unit based in Whippany, N.J. It expects revenue of $80 million from the division.
TransDigm's stock added 7 to $156.84 in late morning trading. GE shares gained 26 cents to $23.45.
- Investment & Company Information