MTU Aero Engines AG (MTX)’s order intake reached $1.1 billion in the past few days and will help the company achieve its goal of 6 billion euros ($8 billion) of sales in 2020, Chief Executive Officer Egon Behle said.
Behle, who leaves the company at the end of the year, told reporters at the Paris Air Show today he won’t advance the revenue target. “I want to give the new team the ability to top my boring target,” he said.
MTU has a large involvement with United Technologies Corp. (UTX)’s Pratt & Whitney unit on short-haul plane engines and deeper ties with General Electric Co. (GE) for big planes, including involvement on the GEnx powering the Boeing 787 and 747-8. The narrow-body activity with Pratt, centered on the geared turbofan engine, received a boost of around 1,000 engines at the expo, Behle said.
The GTF, with deals for more than 4,500 turbines, “has sold better than I would have imagined in my wildest dreams,” Behle said. Winning the position as the exclusive powerplant provider on Embraer SA (EMBR3)’s upgraded regional jets was also unexpected only a few months before the Pratt powerplant was selected, he said.
Behle said he wants to expand the company’s wide-body activities through talks with GE to work on a new powerplant for the Boeing Co. 777X long-range jet.
Negotiations with GE should be concluded by mid-2014 when the world’s largest engine maker wants to complete its partnership agreements for the GE9X turbine, Behle told reporters. He wouldn’t specify what level of work the Munich-based company seeks.
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