GE Aerospace to Buy Castings Maker CPP for Nearly $12 Billion

GE Aerospace said it will acquire Consolidated Precision Products, a maker of castings and forgings used in jet engines, in a deal reported at close to $12 billion — with one report putting the figure at $11.75 billion. CPP supplies precision metal parts that go into engines and airframes, components that have been in short supply across the aerospace industry for the past two years. The purchase brings a critical supplier in-house at a time when engine makers have struggled to get enough parts to keep up with airline demand. Owning CPP could give GE Aerospace more control over its own supply chain and reduce the bottlenecks that have slowed deliveries of new engines. What is not yet clear is how regulators will view the deal, given CPP's parts also supply GE's engine-making rivals, and whether the final price will settle closer to $11.75 billion or the higher figure some reports cited.