Thread: Frech company will have huge stake in Homeland Protection.

And, of course, this means that a FOREIGN COMPANY will be getting American Taxpayer money. Will they be hiring Americans? Dont think so.



--------------------------------------------------------------------------------

http://www.latimes.com/business/nationw ... 2952.story

Safran to buy majority stake in GE Security's homeland protection business for $580M
By Associated Press

6:35 AM PDT, April 24, 2009

NEWARK, Calif. (AP) — French aerospace and defense manufacturer Safran Group has agreed to buy an 81 percent stake in GE Security Inc.'s homeland protection business for $580 million.

Under the deal, GE Security's corporate parent, General Electric Co., will retain a 19 percent stake in the business, which will become part of the defense security division of Safran's Sagem Securite, GE said Friday.

The combined company will focus on identification and detection globally.

GE and Safran have been working together for more than 35 years and are expanding their relationship, GE said.

Shares of GE rose 18 cents, or 1.5 percent, to $12.06 in morning trading Friday.








--------------------------------------------------------------------------------


If you want other stories on this topic, search the Archives at latimes.com/archives.

Article licensing and reprint options



Copyright 2009 Los Angeles Times | Privacy Policy | Terms of Service
Home Delivery | Advertise | Archives | Contact | Site Map | Help


partners:

Every time that I think these people in washington couldn't have half a brain they prove me right.

The combined company will focus on identification and detection globally.

Here we go, say good bye to our Constitution. Freedom is loosing. All I can say is 'from my dead cold hands, my freinds, from my dead cold hands'.

Good grief it just keeps getting worse!

Keep putting the same people in office and it is a clear mandate for them to do any stupid thing they want!