GOTEBORG, Sweden, Jan. 17, 2003 (PRIMEZONE) -- Volvo (Nasdaq:VOLVY):
December 20, 2002, Turbomeca of France, as a representative of a group of eight leading European aerospace propulsion companies, signed a contract for a Propulsion Feasibility Study with Aermacchi of Italy acting for a consortium of five leading European aerospace companies: Aermacchi, Dassault, EADS-Dasa, EADS-Casa, and SAAB.
In addition to Turbomeca, the propulsion team includes FiatAvio of Italy, ITP of Spain, MTU Aero Engines and Rolls-Royce Deutschland of Germany, Snecma Moteurs of France, Techspace Aero of Belgium and Volvo Aero Corporation of Sweden.
The objective of the Propulsion Feasibility Study is to recommend two new engine concepts to power a new trainer aircraft as part of the EuroTraining Feasibility Study.
Eight companies from six countries are contributing their experience and skills to this study. The team will develop a technical and cost-based specification for each of two engine candidates, one with 6,000lbs. and the other with 8,000lbs. of thrust.
The Feasibility Study will aim to assess the best solution for an integrated European advanced jet pilot training system, "EuroTraining" to be introduced around 2010. It will cover all aspects of advanced jet pilot training including a new trainer aircraft, ground-based systems, syllabuses, recommended training bases and other elements. The study is scheduled to last one year and is intended to be followed by a Definition Phase.
This contract follows the agreement signed by Aermacchi acting for the Consortium on December 2, 2002 with the Italian DGAA (General Directorate for Aerospace Acquisition) representing the air forces of twelve European countries: Austria, Belgium, Finland, France, Germany, Greece, Italy, The Netherlands, Portugal, Spain, Sweden and Switzerland.
EuroTraining is a major step forward to increase European cooperation and to foster a European defense and industrial identity.
For further information, please contact:
Mr. Martin Mandinger Volvo Aero phone: +46 520-921 83, Mobile +46 70-577 59 23 This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: www.waymaker.net/bitonline/2003/01/17/20030117BIT00080/wkr0001.doc www.waymaker.net/bitonline/2003/01/17/20030117BIT00080/wkr0002.pdf