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Volvo Aero, which is investing $200 million to revamp its Swedish production facilities, with the inauguration of a multifunction component manufacturing cell at Trolhatten. President Olof Persson says developing Swedish operations is key to the company's strategy. The site could develop to the point where it is "more like the process industry than the traditional engineering industry" with designs customised for automated production, says production manager Erling Vister. | |
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General Electric. The US company's $4.8 billion takeover of Smiths Aerospace is facing closer scrutiny after UK trade, investment and foreign affairs minister Ian McCartney referred the deal to the UK's Office of Fair Trading. The OFT will report back to the minister on any national security concerns the deal raises. The European Commission, which blocked an attempt by GE to buy Honeywell in 2001, is already looking into the competition implications of the deal. | |
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"We don't see any short-term relief in oil prices and we see greater taxes on the industry. The global warming issue will increasingly put the airline industry in the frame as a sinner." Steven Udvar-Hazy, ILFC chief executive |
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Source: Flight International
