Taiwan's EGAT ups stake in GE engine joint venture

Evergreen Aviation Technologies (EGAT) is pumping in additional capital to increase its stake in an engine joint venture with GE Aviation.

In a stock exchange disclosure, EGAT says it intends to invest NT$1.94 billion ($63.9 million) into GE Evergreen Engine Services, which it first set up with GE in 2014.

This will raise its shares in the entity from the current 19.9% to 49%.

The capital injection will be funded by EGAT's funds and bank financing, and the anticipated date of investment is 27 December, it states in the disclosure.

GE Evergreen Engine Services specialises in the overhaul of the GEnx engines, which mainly power Boeing 787s and 747-8s.

Formed in 1998, EGAT is itself an MRO joint venture between GE Aviation and Taiwanese carrier EVA Air.