With no U.S. export financing, GE says will build engine center in Europe

[September 17, 2015]  WASHINGTON (Reuters) - General Electric Co said on Thursday it plans to create a development center for turboprop engines in Europe, citing a lack of U.S. export financing after Congress allowed the U.S. Export-Import Bank's charter to lapse in June.

The company said it will invest more than $400 million in the European turboprop engine development, test and production operation, creating between 500 and 1,000 jobs. GE said it will also invest $55 million in Brazil to build a new engine test facility.

(Reporting by Susan Heavey and David Lawder; Editing by Mohammad Zargham)

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