Monday, September 29, 2008

Navy pumps $9M into Hamilton Sundstrand sub oxygen system deal

By Mass High Tech Staff

Hamilton Sundstrand Corp. reports it has landed a $9.2 million deal from the U.S. Navy for services related to oxygen-making systems aboard Navy submarines.

Under the contract, Windsor Locks, Conn.-based Hamilton Sundstrand will support three systems related to making oxygen for submarines: an oxygen generating plant gas management system, an electrolytic chlorine generator and a central atmospheric monitoring system. The systems are intended to be installed on SSN-21, SSN-774, SSN-688 and SSN-726 class submarines.

Work on the deal will be performed at Hamilton Sundstrand’s Windsor Locks, New London, and Groton facilities in Connecticut, as well as in Bangor, Maine, and other locations. The work is expected to be completed by January 2011.

Earlier this month, the company’s parent, United Technologies Corp., appointed Hamilton Sundstrand vice president of accounting and controls Gregory Hayes as UTC’s CFO. Hayes, 47, will have global responsibility for Hartford, Conn.-based tech giant UTC’s (NYSE: UTX) finance functions.

In August, Hamilton Sundstrand acquired Spanish centrifugal pump manufacturer Marelli Pumps.In February, Hamilton Sundstrand was selected by Airbus SAS to provide an electric power generation system for the French airplane manufacturer’s new A350 XWB (extra -wide body). Executives at Hamilton Sundstrand estimate the deal’s total value at approximately $1 billion.

Hamilton Sundstrand is a subsidiary of United Technologies Corp. UTC reported a 2007 net income of $4.2 billion on revenue of $54.8 billion.