General Electric to buy aviation business of Italy’s Avio

General Electric to buy aviation business of Italy’s Avio

PanARMENIAN.Net - Industrial conglomerate General Electric says it will buy the aviation business of Italian manufacturer Avio for $4.3 billion to strengthen its growth in jet propulsion, The Associated Press reports.

The Fairfield, Conn., company says the deal will help build its global supply chain, as engine production rates rise. The deal also will give GE a chance to offer Avio products outside the aviation industry, in power generation, oil and marine products.

Avio makes aviation propulsion components and systems for civil and military aircraft, and it supplies GE Aviation.

GE says it will buy the business from European private equity firm Cinven and the Italian aerospace group Finmeccanica. GE won't be buying Avio's space unit.

 Top stories
Ameria’s management staff, partners and public agencies, as well as local and int’l organizations are participating in the Oct 14-15 master classes.
In 2014, Ameriabank expanded its range of retail services with new offers, also providing more flexible and transparent terms of service.
Since 2010 the EBRD, EIB and EU have contributed a total of €30 million for the improvements carried out in two phases.
NCFA said its participation in this major exhibition aims to promote Armenia’s tourism opportunities at the European markets.
Partner news