Serbian Company LPO Ada Signs Agreement Worth USD 72 Million with General Electric

The Serbian company Livnica preciznih odlivaka (LPO) Ada has signed an agreement worth USD 72 million with General Electric on the production of blades for passenger plane engines, writes the Tango Six portal.

The agreement was signed at the biggest global aviation industry show in Paris and is probably one of the biggest individual commercial agreements in the history of Serbian civil aviation when it comes to private companies, and it will be realized over the next 10 years, the portal writes.

As the company’s director, Aleksandar Miskovic, said for Tango Six, the agreement signed today is just an addendum to the already signed agreement worth USD 110 million that LPO signed two years ago with the European branch of General Electric.

All the amounts, a total of USD 182 million, are meant for Serbia exclusively, that is, LPO, which is part of the Israeli company Bet Shemesh Engines Group.

LPO Ada produces precision castings from which blades are made for the non-rotating parts of the low-pressure turbines which are put into the currently most modern turbo-fan engines which power passenger planes.

Miskovic says that 40% of the sales of LPO products is meant for the company MTU from Germany, which recently opened a facility for the repairing of passenger plane engines in Serbia.

– As a company, we are profitable and stable, we expect to reach the expected annual revenues of USD 30 million in two years at the most. That is an important thing for our company, especially since we are located in Ada, we are not close to any business, administration, or university center – Miskovic said.

He also points out that his company has excellent cooperation with the Faculty of Technical Sciences from Novi Sad, and three years ago, it employed foreign engineers too.

LPO doo ADA

Livnica preciznih odlivaka

LPO Ada

General Electric

Aleksandar Mišković

production of blades for passenger plane engines