General Electric to buy aviation business of Italy’s AvioDecember 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 | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |