Chemicals-to-finance conglomerate Hanwha Group’s aviation unit Hanwha Aerospace said Monday that it has clinched a $300 million deal to supply aircraft engine parts to US airplane engine maker General Electric.
Under the contract, Hanwha Aerospace will supply six kinds of engine parts for GE’s GE9X which is used for Boeing’s 777X, and some 40 kinds for LEAP engines for Airbus A320 Neo, such as high pressure compressors and turbine cases. The South Korean company will offer parts for GE9X by 2024 and for LEAP by 2025.
“Through the latest deal, the company has stepped closer to becoming a global engine parts company. We will continue to expand partnerships with other global engine manufacturers,” said a Hanwha Aerospace official.
Earlier this month, it signed a $1 billion engine supply deal with British manufacturer Rolls-Royce.
In June, the company acquired US aircraft engine manufacturer EDAC Technologies from Greenbriar Equity Group for 351.6 billion won.
According to Hanwha Group, the company aims to invest 4 trillion won in the airplane parts and defense industry business by 2022.
By Kim Da-sol (firstname.lastname@example.org)