SLM Solutions approves merger with GE Aviation
16th Sep 2016 | In News | By Michael Tyrrell
GE Aviation has announced its decision to launch a voluntary public takeover offer for all outstanding shares of SLM Solutions Group AG. GE Aviation is part of the General Electric Group, USA. GE Germany Holdings AG, an indirect wholly-owned subsidiary of GE Aviation, will conduct the offer.
GE Aviation is offering shareholders €38 in cash per share. Subject to a review of the offer document and on the basis of a Business Combination Agreement concluded yesterday, SLM Solutions' Executive and Supervisory boards intend to support the envisaged takeover offer.
Both companies welcome the planned integration of their areas of activity as a long-term opportunity for their customers, employees and shareholders. Hans-Joachim Ihde, founder and chairman of the Supervisory Board of SLM Solutions Group AG, commented: "General Electric has already accompanied us as a user and customer since our inception. They assumed a pioneering role in aerospace technology and were early to identify the benefits of selective laser melting – for example in terms of savings in the weight of components. They are entirely familiar with SLM Solutions' multi-laser technology and its advantages vis-a-vis our competitors."
In a Business Combination Agreement concluded between GE Aviation and SLM Solutions on 6th September 2016, GE Aviation stated its intention to continue to support SLM Solutions' corporate culture in the future. Along with the commitment to maintain and expand the headquarter in Lübeck and the company's other sites, this also includes a commitment to the workforce and existing management as the drivers of the company's success.
GE Aviation also plans to support the company's further growth in various ways, for example by improved global product and service distribution. The existing customer base will be maintained and expanded. The further development of SLM Solutions into a supplier of solutions for additive manufacturing is an important strategic step for GE Aviation on its path to becoming a digital industrial company.
Consider a free digital subscription
If you find this article informative, consider subscribing digitally to Aerospace Manufacturing for free. Keep up to date with the latest industry news in your inbox as well as being the first to receive our magazine in digital form.
