GE aims to take stake in Snecma
AFP, Farnborough, England
US conglomerate General Electric is hoping to take a stake in French aircraft engine maker Snecma at the end of the year or in the beginning of 2005, a GE executive said Monday at the Farnborough Air Show near London. "We intend to try to (take) this stake. There is no rush," the head of GE's transportation business, David Calhoun, told US television channel CNBC, an affiliate of GE. "We are not interested in a controlling interest but we intend to close it and hopefully we can get it done by the end of this year or the beginning of the next," he added.
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