ENP Newswire - 10 June 2014
Release date- 06062014 - Industria de Turbo Propulsores S.A, ITP Group's parent company, in which the engineering and technology Group SENER owns 53,125% of the shares, has completed 25 years since its foundation in 1989 with SENER as driving force.
To celebrate the anniversary, the company, which is market leader for aircraft and industrial engines and works for large manufacturers such as Airbus or Boeing, has organized various events.
The first event took place on Thursday, June 5, in Madrid at the IFEMA exhibition center and attracted more than 1,300 guests, including the Spanish Minister of Defense, Peter Morenes, the President of SENER and ITP board member, Jorge Sendagorta and company executives from the worldwide most relevant aircraft engine companies such as John Rishton and John Saabas, the CEO's, respectively, of Rolls-Royce and Pratt & Whitney in Canada.
Also present were executives from General Electric and Honeywell as well as the Regional Minister of Economy and Public Finance of the Community of Madrid, Enrique Ossorio, senior officers of the Spanish Army and many ITP professionals. During the event, Peter Morenes expressed his support for the group's track record and projects and, by extension, for the Spanish aviation industry. The President of ITP, Ricardo Marti Fluxa, and the company's General Manager, Ignacio Mataix, also spoke at the event.
The origin of ITP goes back to the development of the EJ200 engine for the multi-purpose Eurofighter/Typhoon fighter in 1985. That year, SENER began providing engineering services as Spanish representative of the Eurojet consortium, in which Rolls-Royce also participated. As a result of this project, SENER conceived the possibility of creating a Spanish jet engine industry, a milestone finally achieved in 1989.
To do this, the company had the support of the Spanish Government and the Basque Government along with the essential support of Rolls-Royce, a company that favored from the beginning the development of ITP in the civil market for twin-aisle aircraft. Currently, SENER is the majority shareholder of the group together with Rolls-Royce, which owns the remaining shareholding of 46.875%. In the words of the President of SENER, Jorge Sendagorta, 'ITP is a company that was founded with a courageous determination, an ambitious project that has been successfully developed over the years.'
A leading company
The ITP Group is a leading company with a global reach that provides high technology and quality products and services to the aircraft and industrial engine market throughout the entire product life cycle. Its activities cover the design, research and development, manufacturing and casting as well as the assembly and testing of aircraft engines and aeroderivative gas turbines. It also provides support services to the majority of global engine manufacturers.
Today, it takes part in international civil aircraft programs with focus on transatlantic aircraft (A380, A350 XWB and Boeing Dreamliner), where it has a market share of 50% of the twin-aisle aircraft fleet through its participation in the Trent engine production in collaboration with Rolls-Royce. It is also a partner in regional aircraft programs, as in the case of the Pratt & Whitney GTF engine, as well as in business aircraft programs.
The company is also a member of benchmark European defense consortia such as Eurojet (for the EJ200 engine), Europrop International (for the TP4000 engine that drives the A400M) and MTRI (for the MTR390-E engine fitted to the Tiger helicopter).
Group sales reached 627 million Euros (2013 figures) and its workforce numbers over 3,000 professionals based in 18 operational centers in Spain, United Kingdom, Malta, US, Mexico, China and India.
Similarly to SENER, ITP also devotes a significant part of its revenues to innovation in order to remain a leader in the sector; this investment amounted to 54 million Euros in 2013. This figure places the group as the Spanish industrial company that most invests in R&D, an effort especially focused to optimize environmental issues such as reducing consumption, increasing efficiency and reducing weight as well as the noise emitted by the turbines developed by the Group.
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