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GE Aerospace Bids $11.5 Billion for Cleveland-Based Engine Castings Maker
GE Aerospace agreed to acquire Cleveland-based Consolidated Precision Products for $11.5 billion, financed with $7 billion in cash and $4.5 billion in new debt. CPP employs about 6,600 people and produces precision castings used in commercial engines, military platforms and power equipment. Bringing the supplier in-house is intended to increase access to mission-critical casting capacity as demand rises across commercial aviation, aftermarket services and defense. The transaction remains subject to regulatory approval and customary closing conditions, with completion expected in the second half of 2027.