In the last five years, General Electric Company (NYSE:GE)’s aviation unit has made investments worth over $4 billion in the United States. Additionally, GE Aviation has invested approximately $1.1 in other parts of the world.
During that time, the aviation firm added manufacturing space by putting up production facilities for new turboprop and jet engines in places such as Huntsville, Alabama; Lafayette Indiana; Asheville, North Carolina; Auburn, Alabama, and Ellisville, Mississippi. The total cost of the five new plants was around $214 million.
Plant upgrades
Besides building new plants, GE Aviation also invested in upgrading manufacturing facilities in Hooksett, New Hampshire and West Jefferson in North Carolina.
With a strategy focused on expanding additive manufacturing the maker of aircraft engines also put up a center for additive development in Cincinnati. GE Aviation also put up a production facility focused on manufacturing engine components for both military and commercial jets.
“GE Aviation is a global company with significant technology capability around the world. At the same time, we are introducing several highly proprietary technologies that are upping our manufacturing capabilities in the United States,” the general manager and vice president of Supply Chain at GE Aviation Colleen Athans, said.
Global company
When broken down by territory, around two-thirds of the annual revenues of GE Aviation are obtained from markets outside the United States. However, approximately 50 percent of the engines for commercial jets are manufactured in the United States. The company has a global workforce of about 44,600 employees who are spread out at more than 85 sites. More than half of those sites are in the United States. More than half of the workforce is also based in the U.S.
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GE Aviation is currently not short of orders as the value of its industrial backlog stands at $150 billion. Together with CFM International, a firm GE Aviation jointly owns with Safran Aircraft Engines, the General Electric unit’s backlog of jet engines has now reached 15,000 units.
On Friday, shares of General Electric Company fell by 0.26 percent to close the day at $30.37.
