March 23, 2009
SINGAPORE -- GE Aviation has increased its ownership of Airfoil Technologies International-Singapore Pte. Ltd. (ATI-Singapore), a world-leading jet engine components repair operation, from 49 to 100 percent by purchasing Teleflex Incorporated's (Teleflex) ownership stake.
By completing the acquisition, GE Aviation will enhance the repair capabilities key to its global base of airline and industrial customers. Also, the acquisition supports GE's growing Services operation, which had revenues approaching $7 billion in 2008, and expands the company's investments in Singapore, where GE operates several aerospace facilities.
ATI-Singapore repairs compressor airfoils with excellent turnaround time and quality. The state-of-the-art facility was built in 1998 to service CF6 and CFM56* engines, but has expanded to include all GE commercial aviation, marine and industrial engines as well as Pratt & Whitney and Honeywell components. Located in Loyang Industrial Park, ATI-Singapore has about 535 employees who repair more than two million compressor airfoils a year.
"The $300 million acquisition of ATI-Singapore is the latest example of GE's growing presence in the region," said David Joyce, president and chief executive officer of GE Aviation, a division of GE. "Last year, GE Aviation Service Operation (GEASO) in Singapore, launched a $30 million expansion project, which will enable that repair facility to continue its double-digit revenue growth."
Launched in 1981, GEASO repairs and refurbishes high- and low-pressure turbine blades and vanes, combustors, rotating parts and seals for more than 100 aircraft engine customers around the world. The facility has more than 900 employees and will expand from 200,000 to 250,000 square feet when construction is completed later this year. The expansion increases GEASO's capacity and capabilities to include repairs on new engines, such as the GEnx engine for Boeing's 787 Dreamliner and 747-8 aircraft.
GE Aviation also operates a 30,000-square-foot material distribution and sales center in the Changi area of Singapore. The center's used-serviceable parts and components improve material availability and support for customers in the Asia-Pacific region from China to New Zealand. This is one of only three GE Aviation used-serviceable parts distribution centers in the world.
In addition, GE Aviation's System organization provides customer support through its Pacific Service Center in Singapore. The Systems team provides innovative solutions to builders and operators of military and civil aircraft, engines and land vehicles.
GE's relationship with Singapore began 40 years ago when the company opened several electronics manufacturing facilities. Today, Singapore is one of the largest markets in the Southeast Asia region for GE with key infrastructure projects in the energy, transportation and health sectors. GE has more than 2,800 employees working in the country for six operating units.
GE Aviation, an operating unit of General Electric Company (NYSE: GE), is a world-leading provider of commercial and military jet engines and components as well as avionics, electric power, and mechanical systems for aircraft. GE Aviation also has a global service network to support these offerings.