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MTU Aero Engines AG is engaged in the development, manufacture and trade of aviation engine and components. It operates its business through the following segments: Original Equipment Manufacturing and Maintenance, Repair and Overhaul. The Original Equipment Manufacturing segment develops, manufactures, assembles and delivers commercial and military engines and components. The Maintenance, Repair and Overhaul segment maintains, repairs and overhauls aircraft engines and industrial gas turbines. The company was founded by Karl Rapp in 1913 and is headquartered in Munich, Germany.