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Monday, December 7, 2009

GE jet engine deal nets $28M

By Brendan Lynch

General Electric Co.’s Aircraft Engines unit has landed $28.1 million from the U.S. Navy for engineering on jet engines, according to the U.S. Department of Defense.

Under the deal, the Lynn-based unit of GE (NYSE: GE) will provide engineering and logistics services on the F414-GE-400, a jet engine used in the Navy’s F/A-18E/F Super Hornet fighter jet, which is manufactured by Boeing Corp. Work on the deal will be performed in Lynn, as well as in Ohio, California and Florida, and is expected to be completed by December 2010. 

Last month, GE’s Billerica-based Sensing & Inspecting Technologies unit received a $2 million grant from the U.S. Department of Energy to develop a sensor for geothermal power generation. GE will refine and repackage an existing sensor to provide temperature, pressure, strain and vibration information from inside geothermal wells.

Fairfield, Conn.-based GE reported a net income of $2.5 billion revenue of $37.8 billion for the quarter ended September 30.



 

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