French engine component repair specialist International Compressor Technologies (ICT) is to wind up activities after accumulating losses of €13 million ($16 million). ICT is a joint venture between Snecma Services and Praxair Surface Technologies, a subsidiary of US metallic surface coatings business Praxis. Snecma Services vice-president of customer operations Pierre Emmanuel Gires says that ICT, which was established in 1999 in the Loire region near Saint Etienne, will close down voluntarily within a few weeks.
Source: Flight International
