GE today said it completed its acquisition of certain assets of small turboprop engine developer Walter Engines as part of its strategy to gain a foothold in the small twin-engine turboprop aircraft market.
GE detailed its plans to buy Walter, which has 400 employees in Prague, in August 2007. The Czech Republic-based manufacturer builds the 750shp M601 turboprop engine, a competitor to the Pratt & Whitney PT6. More than 1,500 M601 engines are deployed on over 30 aircraft types including the Let L-410 19-seat commuter aircraft.
Through the acquisition GE says it plans to assist Walter with investment funding and technical knowledge of materials, turbine design and 3-D aero modeling. The company will trade under Walter Aircraft Engines, a division of GE Aviation.
Roughly 85% of engines built by Walter are operated outside the US and Europe. Previously GE has said Walter powerplants are prevalent in emerging markets – India, China, Russia, and Brazil.
Source: Air Transport Intelligence news