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Parker Aerospace And GE Aviation Launch Joint Venture

Stocks in this article: GE PH









CLYDE, N.Y., Nov. 14, 2012 /PRNewswire/ -- Parker Aerospace, an operating segment of Parker Hannifin Corporation (NYSE: PH), and GE Aviation announced that they have reached an agreement to form a joint venture, Advanced Atomization Technologies, LLC, to enhance the development and manufacture of commercial aircraft engine fuel nozzles. This represents a critical addition to the comprehensive GE fuel management team.

(Logo: http://photos.prnewswire.com/prnh/19990816/PHLOGO)

The 50-50 joint venture — created specifically to produce fuel nozzles for current and future GE Aviation commercial engine platforms (including aerospace and aero-derivative engines) — will be located in the Parker Gas Turbine Fuel Systems Division facility in Clyde, New York.  The joint venture will employ approximately 300 skilled assemblers, technicians, engineers, and other professionals in the production of advanced fuel nozzles and related products for GE Aviation. (No financial information on the joint venture has been disclosed.)

"GE and Parker Aerospace are both world-class aviation businesses and this joint venture will allow us to further evolve our existing relationship and offer best-in-class design, manufacturing and program management for these critical components," said Mike Sims, GE Aviation Combustor General Manager.

Continuing its long history in the Clyde community, the facility will be a center of excellence in lean manufacturing and fuel-nozzle development.  Leanne Collazzo, current site leader of the Parker facility, has been named the general manager for the new Advanced Atomization Technologies, LLC.

"Parker is excited to enter into a joint venture with GE Aviation to ensure the future of the Clyde facility through growth and increased synergy with our customer," said Manuel Bajaksouzian, General Manager of the Parker Aerospace Gas Turbine Fuel Systems Division. 

Pairing Parker's fuel nozzle technology and GE's advanced TAPS combustion technology will dramatically reduce engine emissions while increasing fuel efficiency; two of the most important elements for enhanced engine performance.  Joint development and manufacturing expertise will result in superior fuel nozzles in future products.

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