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ITP to invest 160 million dollars to manufacture low pressure turbines in Mexico

Ignacio Mataix, director general of Industria de Turbo Propulsores, S.A., (ITP), today presented his strategic project for the design and manufacture of low pressure turbines for aeronautical engines with less than 15,000 pounds of thrust to the President of Mexico, Felipe Calderón.

The presentation took place in the official residence at Los Pinos, the Mexican Presidential seat, where the director general of ITP revealed the broad outlines of the project to the President of Mexico, Felipe Calderón. This will mean a level of investment rising to 160 million dollars during its first phase, and will be carried out through ITP affiliate Industria de Turborreactores (ITR), in which ITP is a 75% shareholder.

This new aeronautical activity will lead to the creation of 400 direct professional posts in Querétaro, where ITR has its production installations, as well as 1,300 indirect posts and the participation of over 40 small and mid-scale companies, technology centres and universities. As Ignacio Mataix explained: "The aim is to design and manufacture three power plants which will serve to equip at least nine new aircraft models in the medium term."

The ITP chief executive emphasised to the Mexican President the level of financial commitment that has been undertaken in his country: "Throughout ITR's 11-year history all of the profits have been re-invested. The stakeholders, Mexicana de Aviación and ITP have not yet obtained any financial returns from the society and with this project, they accept that they will not receive any in the short term".

The new activity will integrate all the steps of the aerospace industry's process (conceptualisation, design, prototypes, trials, validation, raw materials, manufacture, assembly and maintenance), thereby promoting the local supply chain for aeronautic engines.

Press release issued by ITP - Industria de Turbo Propulsores, S.A. on February 13, 2009


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