http://cincinnati.bizjournals.com, The General Electric Aircraft Engines plant in Lynn, Mass.,which is part of Cincinnati-based GE Aircraft Engines, was awarded a $7.5 million contract modification from Patuxent River, Md.-based Naval Air Systems Command to produce 16 additional T58 engine reliability improvement program module kits.
According to a U.S. Department of Defense release, the work is expected to be completed by September 2005.
GE Aircraft Engines said in July that business is coming back after a prolonged slump, thanks to the company's aggressive introduction of new engines into the market.
It is expecting 2004 revenue of about $12 billion, up 9.3 percent from $10.97 billion in 2003. GEAE is part of GE Transportation, along with GE's Rail business, and the overall business unit expects '04 revenue of about $15 billion, according to a news release.
The improved 2004 results are being driven by increase use of commercial aircraft worldwide, along with a brisk military business for engine spare parts and technology upgrades, the company said. And, the base of engines produced by GE and CFM International, which is a 50-50 joint venture between GE and Snecma Moteurs of France, exceeds 15,000 and is expected to top 25,000 engines within 10 years. In 1990, the base stood at 5,000.
GE Aircraft Engines is part of the team bidding to build the next fleet of helicopters to serve as Marine One, the helicopter that transports the president of the United States. FlightSafety International, L-3 Communications Integrated Systems, Northrop Grumman, Rockwell Collins, Sikorsky Aircraft Corp. and Vought Aircraft Industries are also on that team.
