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. Partner news  Top stories Tigran Sargsyan noted that the new plant will be constructed after the current one is finally out of operation. IFC invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining. Armenian Prime Minister addressed a letter to Public Services Regulatory Commission over the reconsideration of gas prices. Armenia’s Public Services Regulatory Commission plans to reconsider electricity generation and distribution prices.   Partner news |  Latest news Russian expert rules out Karabakh war renewal by Armenia  Alexander Krylov: the possibility of the renewal of Karabakh war should not be exaggerated in the face of the balance of power.German scientists ready to include Armenian petroglyphs in UNESCO list The scientists conducted a survey of ancient rock art, with a database of Armenian petroglyphs to be later developed.OSCE Minsk Group Co-Chairs won’t visit Artsakh French Co-Chair of the OSCE Minsk Group Jacques Faure said the co-chairs are not planning a visit to Nagorno Karabakh.Penguin reaches $75mln agreement in iBooks price fixing lawsuit In a press release, Penguin's parent company, Pearson, noted it had made a $40 million provision for settlement in its 2012 accounts. |
