MTU Maintenance Renews CF34 License Agreement With GE Aviation

--Projected MTU sales: more than 500 million euros --Market potential of more than 4,500 engines (Hamburg, Germany, September 23, 2009) -- For MTU Maintenance Berlin-Brandenburg, the CF34 engine has become an ongoing success story. The company has now renewed a license agreement with GE Aviation, an operating unit of General Electric (GE), for the maintenance, repair and overhaul of the CF34-3, -8 and -10 engine versions long before the contract period expired. The agreement, originally signed in 2002 for a term of ten years, is now set to run until 2022. Over the life of the agreement, MTU expects the deal to generate sales in the amount of more than 500 million euros. On the occasion of the contract signing ceremony, Dr. Stefan Weingartner, MTU Aero Engines President and CEO Commercial Maintenance, said: "With this decision, we'll be keeping this highly promising program in our Ludwigsfelde-based affiliate's portfolio long-term. This way, we will contribute significantly towards securing high-tech jobs in the Brandenburg region."
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Source: MTU Aero Engines
Date: Sep 23, 2009