GE Aviation Buys Walter Engines

Czech-based manufacturer of small turboprop engines and machined parts for the aviation industry acquired by General Electric's aviation unit.

FAIRFIELD, Conn. (AP) -- General Electric Co.'s aviation unit is entering the market for small twin-engine turboprop aircraft, which it calls the industry's fastest-growing segment.

GE Aviation said Thursday it has purchased assets of Walter Engines, a manufacturer of small turboprop engines and machined parts for the aviation industry. Cincinnati-based GE Aviation did not disclose terms of the deal.

Walter Engines is based in the Czech Republic, and has manufactured aircraft engines since 1923.

GE Aviation is a business of Fairfield-based GE. It makes commercial and military jet engines, components and mechanical systems for aircraft.

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