GE and Investissement Québec to invest in new technology
BROMONT, QC, April 7 /CNW/ - GE Canada announced today that its GE Aviation business is planning to invest $63.5 million dollars over the next six years to diversify its product line at the GE Aviation manufacturing plant in Bromont, Quebec.
Québec Premier Jean Charest and Minister of Economic Development, Innovation and Export Trade, Mr. Clement Gignac announced financial assistance of up to $13.3 million from the Strategic Support for Investment (PASI), managed by Investissement Québec.
The investment of $63.5 million dollars will strengthen Bromont's position as a global centre of excellence and will also create 80 jobs and maintain the current 545 jobs at the GE Aviation manufacturing facility.
The investment in new technology will allow the Bromont facility to manufacture new aircraft engines components, such as fan blades metal leading edges, low-pressure turbine blades and compressor blades and vanes for the next generation of aircraft engines.
"Investments in new technology are essential if we want to remain competitive. With support from the Government of Quebec, GE Aviation is enhancing its capabilities, increasing productivity and developing new products for global markets," said Elyse Allan, President & CEO, GE Canada.
"With the aid granted to General Electric Canada, the Government of Québec recognizes the need to take steps to increase the competitiveness of its aerospace industry. We aim to reinforce Québec's position among the world leaders in this field. To this end, Québec is ranked 6th in the world behind great players, such as the United States, France, Germany, the United Kingdom and Japan," said Premier Jean Charest.
GE Aviation Bromont manufactures aircraft engine components, including aircraft engine fan blades. Parts manufactured in Bromont are made for various commercial and military aircraft engines, including the CFM56 and the GEnx. The CFM56 engines are the best selling engines for single aisle/narrow body aircraft (Boeing 737 and Airbus 320). The GEnx is the next generation engine for the Boeing 787 and Boeing 747-800, which are scheduled to enter service this year.
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, medical imaging, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com
In Canada, GE has operations across the country, including major manufacturing facilities, over 150 sales and service locations and more than 8,500 employees.
About Investissement Québec:
Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation, and this, in all regions. Since its inception, the company has allowed the realization of investment projects of almost $50 billion and the creation of almost 170,000 jobs.
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SOURCE General Electric Canada Inc.
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