General Dynamics [GD] this week completed its $2.2 billion acquisition of Switzerland-based Jet Aviation, boosting its capabilities and global presence in the business jet services market.
“As a unit of General Dynamics, Jet Aviation positions us to capture additional growth opportunities in the business-aviation market,” Nicholas Chabraja, GD’s chairman and CEO, said in a statement.
Jet Aviation operates in nine locations in the United States as well as in multiple locations in Europe, Asia and the Middle East.
When GD announced the acquisition in August, it said it expects Jet Aviation to contribute $1.5 billion in sales and $230 million in earnings before interest, taxes, depreciation and amortization in 2009. Jet Aviation expects to have $1.4 billion in sales this year. The company has 5,600 employees.