GEOFF THOMAS
European aero engine consolidation is a subject guaranteed to get under the skin of MTU chairman Dr Manfred Bischoff - particularly if it involves his company being acquired by Snecma.
Speaking while on a tour of the airshow yesterday he said, categorically, that MTU is not for sale. "Here in Le Bourget, MTU is expressly demonstrating its great profit-making capability and its high standing in the international market, particularly with relation to the products of the future."
Wildfire
Bischoff, who is a member of the board of management of DaimlerChrysler, said: "Rumours always spread like wildfire at Le Bourget - among them the ‘fact' that our industry neighbour Snecma would very much like to purchase MTU. "That will not happen. MTU is successful and will continue to fashion itself a successful future."
With a current headcount of 7,200, MTU Aero Engines is a fully-owned DaimlerChrysler subsidiary.
Services
It is Germany's only major engine maker and the world-class player in commercial engine services. Sales in the year 2000 were around $1.9 billion.
Snecma and MTU are part of a joint venture (along with Rolls-Royce, ITP, FiatAvio and Techspace Aero) to produce the TP400 high-speed turboprop engine, the largest ever built, for the new Airbus A400M European military transport aircraft.
Rumours persist that up to 20% of French state-owned Snecma will be offered for sale in a complex part-privatisation, maybe as early as next weekend. Snecma¹s Jean Paul Bechat, president-director general, chairman and chief executive persists in his refusal to comment, other than to say that any decision rests with the shareholders - in other words the French government - and not him.Source: Flight Daily News
