Safran and GE Aviation in engine part joint venture

PARIS, July 15 (Reuters) - Safran (SAF.PA) said on Tuesday it had agreed with GE-Aviation (GE.N) to establish a joint venture company to develop, produce and support engine nacelles for the next-generation single-aisle commercial airliners.

The agreement covers complete nacelles -- engine housings -- and nacelle subsystems based on the expertise and resources of Aircelle, a Safran company, and GE's Middle River Aircraft Systems subsidiary.

The new company will have a joint management and operational structure, with 50 percent ownership held each by Middle River Aircraft Systems and Aircelle. (Reporting by Marcel Michelson; Editing by Paul Bolding)