Ontario Teachers’ Pension Plan and GE Aviation Form Strategic Partnership with DBJ support

The Ontario Teachers’ Pension Plan (Teachers’) and GE Aviation announced a strategic partnership to support the development of advanced technologies that will be used in the GE9X engine. The GE9X engine will power Boeing’s new wide-body 777x aircraft, and will provide a 10% improvement in fuel consumption over the existing GE90-115B engine. The 777X aircraft is scheduled to enter service in 2020. Development Bank of Japan Inc.(DBJ) through one of its affiliates, will be supporting Teachers’ contribution to the partnership, but the terms of the arrangement are not being disclosed.

In addition to its existing relationship with Teachers’ public equities group, DBJ looks forward to the opportunity of working with its other asset classes in the future, such as infrastructure and private equity, in key regions important to Teachers’, including Asia.

GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, components and integrated systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings.

With $140.8 billion in net assets as of December 31, 2013, Teachers' is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund's assets and administers the defined benefit pensions of 307,000 active and retired teachers in Ontario.

DBJ is 100% owned by the Japanese government, provides seamlessly integrated investment and loan services. In committing to this program, DBJ has benefited greatly from the thirty-year history that DBJ and its predecessor, the Japan Development Bank (JDB), have had in supporting the Japanese aviation industry to improve the international competitiveness.

DBJ’s corporate philosophy is “Applying financial expertise to design the future”. Using creative financing techniques, DBJ is committed to working with customers to resolve their problems, earn their trust and build a prosperous future.


Inquiries:
Development Bank of Japan Inc.
Corporate Finance Department, Division 1
+81-3-3244-1680