// IP Marketing video - START// IP Marketing video - END

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
Mountea, an Armenian company producing tea from the mountain herbs has begun to export its products to Russia.
20,149 optical-mechanical devices were manufactured in the reporting period against the 3,388 produced in the same period last year.
Yandex and Uber said they will join forces in the six countries to create a new company operating in some 127 cities.
“A more efficient and reliable energy distribution network is important for economic growth in Armenia”, - said Sonali Tang.
Partner news