08:06 AM EDT, 07/19/2024 (MT Newswires) -- GE Aerospace (GE) said Friday it plans to invest more than $1 billion over five years in its global maintenance, repair, and overhaul and component repair facilities.

The investments include $250 million to be spent this year, including around $65 million in US facilities, $55 million in Brazil, $60 million in Europe and Middle East, and $45 million in Asia Pacific

Part of the funding this year is devoted to construction of a new Cincinnati-area Services Technology Acceleration Center to speed development of new inspection technologies.

The company said the investments will bolster its capacity to meet industry-wide growth and customer demand by adding engine testing equipment and funding new technology that could reduce repair and inspection times.

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