SOURCE: IAE International Aero Engines AG

IAE International Aero Engines AG

September 21, 2011 08:00 ET

IAE Wins New Military Application -- V2500 to Power New Brazilian KC-390

BEIJING--(Marketwire - Sep 21, 2011) - International Aero Engines arrives at this year's Beijing Air Show with a wider market venue than it has in the past. For the first time in its history, V2500s will be powering military aircraft -- having captured the opportunity to power Embraer's new KC-390 tanker/transport.

Embraer Aerospace and Defense, in concurrence with the Brazilian Air Force, made the announcement in late July. The engine will be the V2500-E5.

"We are very pleased to be providing V2500 powerplants for this new multi-role military aircraft being developed and produced by Embraer," said Ian Aitken, president and chief executive officer of IAE. "This military application for our V2500 engine substantially opens a market that we have not done business in before, providing our business with opportunities for substantial further growth."

The KC-390 development program was launched in April 2009 and the Brazilian Air Force formalized its intent to purchase 28 aircraft in July of last year. Five additional countries have agreed to join as industrial partners, with expectations now totaling 60 airplanes. It will also be marketed globally, representing opportunities for further growth.

IAE is a multinational aero engine consortium whose shareholders comprise of Pratt & Whitney (NYSE: UTX), Rolls-Royce (LSE: RR), Japanese Aero Engines Corporation and MTU Aero Engines. There are more than 5,500 V2500s in service or on firm order with nearly 200 customers around the world.