GE and Nordam Group Form Joint Company in Wales

November 11, 1996 -- EVENDALE, Ohio - GE Engine Services, Inc., a wholly owned subsidiary of General Electric Company of the United States, and the Nordam Group have formed a joint company, Nordam Europe, Ltd., to perform maintenance and overhaul work on jet engine thrust reversers and engine nacelle components.

The joint company, Nordam Europe, Ltd., is being established in Wales, and will initially serve GE's maintenance and overhaul operation in Nantgarw, Wales. Plans are to expand Nordam Europe's customer base to include other jet maintenance and overhaul operations worldwide.

Completion of Nordam Europe's $9.3 million, 100,000 square foot facility in Blackwood, Wales, is scheduled for early 1997. The location was selected on the basis of its proximity to GE's repair and overhaul facility in Wales, the region's favorable business climate, and the availability of skilled personnel. As many as 170 new jobs will be created at this location.

With revenues of approximately $2 billion in 1995, GE Engine Services, Inc. provides comprehensive overhaul and repair of aircraft engines, components, and accessories at facilities not only in Wales, but also in Singapore, and Brazil, and in the United States at: Cincinnati, Ohio; Ontario, California; and Strother Field, Kansas. GE Engine Services' headquarters are in Cincinnati, Ohio.

The Nordam Group, based in Tulsa, Oklahoma, is one of the world's leading manufacturers of aviation components and accessories.