MTU Aero Engines Aims To Increase Stake In IAE Consortium
13 October 2011 - 5:46PM
Dow Jones News
German aircraft engine maker MTU Aero Engines Holding AG
(MTX.XE) said Thursday it intends to increase its share in the
International Aero Engines consortium, a move expected to follow an
agreement between Pratt & Whitney and Rolls-Royce Holdings PLC
(RR.LN) on the restructuring of the consortium, which markets the
V2500 engines for Airbus A320 aircraft.
MAIN FACTS:
-Neither financial details nor the exact size of the stake
increase were disclosed.
-Rolls-Royce will sell its stake in International Aero Engines,
or IAE, to Pratt & Whitney, which in turn will pass on parts of
this share to MTU Aero Engines.
-MTU's share in the V2500 program will rise above the 11% it
currently holds.
-MTU's revenue contribution from this program will increase
substantially, and the deal is expected to lead to a positive
earnings contribution for MTU.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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