GE Plans Engine Project: General Electric announced...

GE Plans Engine Project: General Electric announced the development of a more powerful family of jet engines for bigger airliners still on the drawing board. The nearly $2-billion cost would be shared with three foreign companies. GE said SNECMA of France would share 25% of the development cost and risk of the first new family of commercial jet engines in 20 years. West Germany’s MTU has also signed a tentative memorandum of understanding, and GE also hopes to reach agreement with an unidentified Japanese company.