GE To Open Turboprop Facility In Europe

GE Aviation has said it plans to open a new $400m turboprop engine development, test and production centre in Europe following the expiration of the US Export Import Bank (Ex-Im) in July.

GE Aviation has said it plans to open a new $400m turboprop engine development, test and production centre in Europe following the expiration of the US Export Import Bank (Ex-Im) in July.

GE, which is currently bidding for $11bn of projects requiring export funding, said it is pursuing the new operation in Europe to support international customers with financing through government-sponsored export credit agencies.

David Joyce, president and CEO of GE Aviation, said: “The uncertainty around the Ex-Im Bank in the US requires that companies like GE create alternatives in order to compete internationally.”

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