Thursday, June 17, 1999
GE sells engines to Embraer
The Associated Press
CINCINNATI — GE Aircraft Engines secured an exclusive contract at the Paris Air Show that will give its family of CF34 engines an edge in the rapidly growing regional jet market, company officials said Wednesday.
Under the agreement secured this week, the Evendale-based engine manufacturer will provide engines to power Embraer's new 70-passenger ERJ-170 and 98- to 108-passenger regional jets.
GE Aircraft said it now has contracts with all three major regional jet manufacturers — Bombardier in Canada, Fairchild Aerospace in the United States and Embraer of Brazil.
Before the Embraer deal, GE Aircraft already had won engine orders totaling near ly $1.35 billion, officials said. Those include a $900 million contract to provide CFM56 engines for 100 Boeing 737 aircraft ordered by International Lease Finance Corp.
CF34-powered regional jets are turning into one of GE Aircraft's fastest-growing product lines thanks to consumer demand and the increased operating capacity they give regional airlines, the company said.
GE Aircraft also said Wednesday that it has signed an agreement to form an engine-maintenance joint venture at Warsaw, Poland's, airport with LOT Polish Airlines and GE's Engine Services unit. The alliance will be called Central European Engine Services, and will be the first of its kind in Eastern Europe, the company said.
The Paris Air Show runs through Sunday.
5/3 makes its biggest acquisition
CEO sees plenty of room for growth
P&G set to export area jobs
GE sells engines to Embraer
Public gives gambling 3 cherries
Inflation chatter inflated or real?
Updated 'lemon law' in effect in 90 days
TRISTATE BUSINESS SUMMARY
COMMERCIAL REAL ESTATE PROJECTS
INDUSTRY NOTES: REAL ESTATE
TRISTATE MARKET SPOTLIGHT
