GE Aviation CZ to supply aircraft engines to US firm Thrush

Prague, March 1 (CTK) - GE Aviation CZ will deliver 24 new aircraft engines H80 to US company Thrush for $8.5m (around Kc167m) under a cooperation agreement signed Friday by the Czech EGAP export guarantee and insurance company and the US Export Import Bank (Ex-Im Bank), EGAP said in a press release.

The reciprocal agreement will make cooperation of Czech and US exporters on projects in third countries easier.

The document was signed during a business mission to the USA led by Czech Industry and Trade Minister Martin Kuba.

"It is very good news for EGAP as well as for Czech exports," Kuba said on the agreement.

"I appreciate very much the active role of EGAP's new management in the pro-export policy," said Kuba.

The export of the aircraft engines will be a pilot project for the agreement.

Thrush Co. will subsequently export 24 planes with the engines to Brazil.

Canadian engine manufacturer Pratt & Whitney had also been interested in the project.

EGAP CEO Jan Prochazka said the contract is a great success for the Czech firm.

"The first deal opens the door to Latin America," he said.

The agreement with the Ex-Im Bank will help Czech exporters in markets where US firms have been well established, he added.

The state-run EGAP expects a record figure for last year. It is estimated to have insured export of Czech goods, services and investment for around Kc84bn.

The previous record of over Kc67bn was registered in 2010.