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GE Aerospace to invest over $650 mln in factories, supply chain in 2024
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GE Aerospace to invest over $650 mln in factories, supply chain in 2024
Mar 12, 2024 7:56 AM

March 12 (Reuters) - GE Aerospace said on Tuesday

it planned to invest over $650 million into its manufacturing

plants and supply chain this year to boost its production

capacity to support demand from commercial and defense clients.

The company will invest nearly $450 million in 22 GE

Aerospace facilities across 14 states in the United States and

$100 million in some of its international sites. It also plans

to invest an additional $100 million in its U.S.-based

suppliers.

"The 2024 investment plan expands the company's capacity to

continue ramping LEAP engine production, prepare for production

of the GE9X, and to continue supporting the U.S. military and

its allies around the world," GE said in a statement.

CFM International, GE's joint venture with France's Safran

SA, is an engine supplier for Boeing's ( BA ) 737 MAX

jetliners and competes with RTX's Pratt & Whitney to power

Airbus' 320neo jets.

Along with the investment, GE said that it was hiring over

1,000 employees at its U.S. factories.

Once an industrial conglomerate, GE in 2021 said it would

split into three companies focused on aerospace, healthcare and

energy.

The healthcare business was spun-off last year and the

separation of the energy business is expected to be completed

next month.

(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Anil

D'Silva)

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