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GE Scores $1B 787 Order From Vietnam

The deal will be officially signed at an upcoming regional summit


787dreamlinerAt the East Asia Summit in October, Vietnam Airlines will sign a deal to purchase jet engines from General Electric (GE).

The deal is valued at $1 billion. GE beat out Britain’s Rolls Royce to build the engines for new Boeing (BA) 787 Dreamliners ordered by the airline, Bloomberg notes.

More GE Molting: Credit Card Spinoff Nigh!
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Vietnam Airlines is expected to begin taking delivery of 19 787-9 Dreamliners in 2015. The deal with Boeing was announced by Vietnam’s prime minister.

The signing of the agreement at the summit was requested by U.S. President Barack Obama, who will attend the meeting, which is being held in Brunei, according to the Vietnamese prime minister.

Earlier this year, General Electric sold its solar power technology to First Solar (FSLR) in exchange for stock in the solar power company.

Despite the news, shares of General Electric slipped fractionally in Monday morning trading.

Article printed from InvestorPlace Media,

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