General Electric's aviation unit said yesterday it bought a Czech company that will help it make inroads into the fast-growing market for small twin-engine turboprop aircraft.

GE Aviation said it purchased Walter Engines, a manufacturer of small turboprop engines and machined parts for the aviation industry. Cincinnati-based GE Aviation did not disclose terms of the deal, but spokeswoman Deborah Case said it was less than $70 million.

Walter Engines, based in the Czech Republic capital of Prague, has made aircraft engines since 1923. It reported revenue of $28 million in 2007 and has 400 employees on its rolls, GE Aviation said.

GE Aviation, a business of Fairfield-based General Electric Co., makes commercial and military jet engines, components and mechanical systems for aircraft. Post acquisition, the new entity will operate as Walter Aircraft Engines, a division of GE Aviation.

GE said the acquisition "broadens GE's offerings... and enables the company to enter the fastest growing aviation segment - the small, twin-engine turboprop aircraft."

Case said GE Aviation intends to compete against Pratt & Whitney's PT6 engine.

''It will allow us to compete in a segment we've not competed in before,'' she said. ''We know they definitely have a big presence in the market and this opportunity with Walter allows us to enter that.''
''Whatever win we can get from the market is a win. It's more than we have now,'' she said. It has been reported that GE also plans to increase production to 500 engines a year by 2010 and will introduce an upgraded version of Walter's primary engine in July.

"Walter's deep industry experience in turboprop applications is a complementary fit with GE's strategy to better position GE Aviation in this growing segment," said David Joyce, the new president and CEO of GE Aviation.

Joyce said GE will "help Walter with investment funding as well as technical knowledge of materials, turbine design and 3-D aero modeling. Walter will help GE better understand the business aviation segment and its customers' need for simple straightforward design."

Pratt & Whitney Canada, a Longueuil, Quebec-based subsidiary of United Technologies Corp., has produced PT6 engines since 1963.

''We take all competition very seriously,'' said Nancy German, spokeswoman for Pratt & Whitney Canada.