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Article: MARTIN MARIETTA TO PURCHASE GE AEROSPACE UNITS DEAL TO CREATE INDUSTRY GIANT

[external] Submitted on 4 December, 2009 - 23:11
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1992-11-24
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English
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Article date: November 24, 1992

Byline: ADAM BRYANT New York Times

In a deal underscoring the wrenching new era for the military-industrial complex, General Electric Co. said Monday that it would sell its aerospace division to Martin Marietta Corp. for $3.05 billion.

The proposed sale would remove GE entirely from the military and aerospace electronics businesses it has held since World War I. GE would, however, continue to sell aircraft engines to the military.

The acquisition would make Martin Marietta, based in Bethesda, Md., the nation's largest supplier of high-technology military electronics, surpassing the Hughes division of General Motors Corp. and Lockheed Corp.

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