General Electric to buy aviation business of Italy’s Avio December 21, 2012 - 17:46 AMT 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 Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news European Parliament to discuss repression in Azerbaijan  The European Parliament will discuss repression of civil society in Azerbaijan on April 24PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE.Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide.Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |
