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General Dynamics Unit Closes Acquisition of Hawker Pacific

General Dynamics (GD), an aerospace and defense company, said Wednesday its Jet Aviation division has closed its acquisition of Hawker Pacific in a transaction valued at $250 million.

Hawker Pacific provides civil maintenance, repair and operations, fleet and fixed-base operator services, and aircraft sales across Asia Pacific and the Middle East.

“We are now in a position to further expand our current portfolio, enter new markets across Asia-Pacific and the Middle East, and offer more options and value to our customers worldwide. Bringing together these two well-established brands reinforces our position as one of the world’s leading business aviation service providers,” said Jet Aviation president Rob Smith.

Shares were marginally higher around midday.