VOLVO AERO, GE SIGN PARTS CONTRACT FOR WORLD'S LARGEST AIRCRAFT ENGINE

Volvo Aero in Trollhattan, Sweden, will produce parts for General Electric's GE90-115B, according to a new 10-year contract. The engine is used to power the Boeing 777-200LR and 777-300ER, and is said to be the world's largest aircraft engine.

According to the agreement, Volvo Aero will begin

Volvo Aero is a part of the Volvo Group that develops and manufactures components for aircraft and rocket engines, and offers spare-parts sales for aircraft engines and aircraft, sales, and leasing of aircraft engines and aircraft, and overhaul and repair of aircraft engines. Through its affiliated company Volvo Aero Norge, Volvo Aero is already a program partner and supplier for the GE90 engine.

"This is a strategically significant transaction for Volvo Aero. The Boeing 777 is competitive in its market segment and will be successful during the next 10-15 years," stated Anders Nilsson, v.p.-Business Development at Volvo Aero. "In recent years, we have made major investments in the production facilities in Trollhattan and Kongsberg. This agreement is an indication that we are competitive in production-based transactions.