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General Electric yesterday bought Turbomecanica"s 50% stake in the joint venture Turbomecanica Combustor Products (TMCP). In a report to the Bucharest Stock Exchange, Turbomecanica mentions that the sale of their stake to General Electric is the recognition of the maturity and independence achieved by TMCP. Turbomecanica will continue to be TMCP"s main supplier of aeronautic combustion chambers and technical support services.
TMCP was established in March 2002 as a joint venture between GE Aircraft Engines and Turbomecanica. The company manufactures combustion chambers for aviation engines. Production started in 2003 and reached the maximum level in 2004. Turbomecanica will expand the operations started in 1998 as a subcontractor of General Electric Aviation.
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