SINGAPORE -- GE Aviation today announced a $30 million U.S. expansion of the GE Aviation Service Operation (GEASO) facility here in Singapore, positioning the facility to more than double revenues over the next five years. In 2007, GEASO achieved revenues of more than $250 million U.S.
The GEASO expansion, which is scheduled to begin in April of this year, will increase total production square footage of the facility by 20 percent, growing from 200,000 to 250,000 square feet by the time the project is completed in mid- 2009. In addition, its current work force of 900 people is expected to grow by more than 30 percent over that same five-year period.
GEASO, which was launched in 1981, repairs and refurbishes high- and low-pressure turbine blades and vanes, combustors, rotating parts, and seals for aircraft engines for more than 100 customers around the world.
"GEASO has been one of our best global facilities," said Scott Donnelly, president and CEO of GE Aviation. "It has consistently delivered outstanding value for our customers and shareholders, including an on-time delivery of better than 98 percent in 2007. This investment will increase both our capacity and our capability to repair the newest technology engines, including the GEnx powerplant for Boeing's 787 Dreamliner. The investment will also enable GEASO to provide repair capability for other GE Infrastructure businesses."
"We are delighted that GE Aviation will significantly expand its component and repair facility, GEASO, in Singapore. GEASO is not only one of GE Aviation's largest component and repair facilities in the world, but also one of its best in terms of capabilities and performance. This expansion underscores Singapore's competitiveness and attractiveness as a location for aerospace MRO activities," said Ko Kheng Hwa, managing director of the Singapore Economic Development Board.
GE Aviation, an operating unit of General Electric Company (NYSE: GE), is a world-leading provider of commercial and military jet engines and components as well as integrated digital, electric power, and mechanical systems for aircraft. GE Aviation also has a global service network to support these offerings.