Praxair, Inc. today announced that GE Aviation and Praxair Surface Technologies, Inc., a wholly-owned subsidiary of Praxair, Inc., have entered into a definitive agreement to form a joint venture for the development, support and application of specialized coatings.
The coatings will be tailored for GE Aviation’s and CFM International’s* current and future engine models, including the GE9X and LEAP engines.
When created, the joint-venture company will expand its footprint with a new coatings plant in the southeast United States, which will supplement the services provided to GE from Praxair’s Indianapolis facility and other global operations.
Additionally, under the agreement, Praxair Surface Technologies’ current scope of services provided to GE Aviation will be expanded. GE Aviation production volume will continue to grow due to a large backlog of commercial engine orders.
Praxair Surface Technologies will be the majority owner of the venture and will consolidate the results. GE Aviation will hold the remaining membership interests. The parties plan to begin operations during the second quarter of 2016, once regulatory approvals are obtained.
‘We are delighted to expand and formalize our long-standing relationship with GE Aviation and combine efforts to provide exceptional service, capabilities and technologies to the growing aviation industry,’ said Praxair Surface Technologies President Pierre Lüthi. ‘Together, we’ll enhance our advanced coating capabilities to provide a dedicated coating source and support the growth of GE’s new engine platforms.’
‘This specialized coating joint venture with Praxair will enable us to meet our growing engine production volume,’ said Colleen Athans, vice president and general manager of GE Aviation’s Supply Chain. ‘The unique coating capabilities will enhance our engines’ performance and durability, which are key requirements for our customers.’
Source: Praxair
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
