Wegner Named Chairman of New Engine Venture
EAST HARTFORD, Conn. (AP) _ Arthur Wegner has been elected chairman of International Aero Engines, a five-nation joint venture company developing the V2500 turbofan jet engine.
Wegner, president of Pratt & Whitney, succeeds Ralph Robins, managing director of Rolls-Royce, who was chairman for the first year of IAE’s operations.
Rolls-Royce and Pratt & Whitney each have a 30 percent workshare in IAE’s V2500 program. Japanese Aero Engines Corp. has a 23 percent share, MTU of West Germany an 11 percent share and Fiat Aviazione of Italy a 6 percent share.
IAE has offices in East Hartford, and its engineering center is in Derby, England. Its V2500 engine has already been sold to Airbus Industrie and McDonnell Douglas, two of the world’s major manufacturers of airliners.
Robins said IAE ended its first year ″way beyond what had been expected.″
He said a cmpany study shows there will be a demand for about 7,000 engines in the V2500 class in the next 20 years, worth up to $30 billion.