Prague, Oct 15 (CTK) - US industrial giant General wants to change the Czech company Walter into a world centre for small aircraft engines, Hospodarske noviny HN daily writes today.
General acquired the Czech aircraft engine maker, based in Prague, in August.
Scott Donnelly, Aviation head and a management member at General , told the paper that so far the company has not produced small engines and that Walter exactly matches its strategy.
Donnelly counts on a two-digit growth of Walter's sales a year in the next few years. Walter's product portfolio will broaden, it will make new investments and also new jobs will be created, he said.
GE's aim will be to undermine the dominant position of Canadian rival Pratt & Whitney, the paper said.
Pratt & Whitney enjoys over 90 percent of the global market for small aircraft engines, Donnelly said, adding that it would be a success to get 10 percent of the Canadian company's share.
Walter Engines specialises in the production of WALTER M601 series engines designed for commuter, agricultural, and trainer aircraft. The WALTER M601 engine is a free power turbine turboprop engine. The company also produces aircraft certified components and ensures their overhauls.
Walter Engines posted sales of Kc564.3m in 2006, exports making up four-fifths of the figure.
Aviation showed a $2.9bn profit (about Kc80bn) last year. Sales amounted to $13.2bn (about Kc366bn).