Samsung Techwin signs MoU to supply airplane parts to GEDefense and precision machinery company Samsung Techwin said Monday that it has signed a deal with General Electric (GE) to provide airplane engine parts for the next 10 years.
Samsung Techwin, which will be sold to Hanwha Group later this year as part of a mega deal between Samsung and Hanwha, said it will supply 18 types of airplane engine parts to GE from 2016 to 2025. The deal is valued at around $430 million.
The parts will be used to manufacture the LEAP (Leading Edge Aviation Propulsion) engine that CFM International, a joint venture between GE and France’s Snecma, is aiming to release to the market by 2016.
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