Friday, November 14, 2008

Pratt & Whitney’s airplane engines get $185M Air Force deal

By Mass High Tech Staff

Pratt & Whitney has landed a contract worth a potential $185 million from the U.S. Air Force, according to the U.S. Department of Defense.
 
Under the deal, the East Hartford, Conn.-based United Technologies Corp. (NYSE: UTX) subsidiary will develop engines intended to operate at 10 times the turbo-propulsion affordable capability of current aircraft engines. The contract calls for the technology to be developed by 2017.

Last month, United Technologies chose David Hess to succeed Steven Finger as Pratt & Whitney’s president. Hess, currently president of UTC unit Hamilton Sundstrand, will replace Finger when he retires on Jan. 1, 2009.

Also last month, Pratt & Whitney won a contract potentially worth $1.4 billion from the Boeing Co. Under the Boeing deal, Pratt & Whitney will provide engine maintenance for the C-17 aircraft fleet, including fleet management support, configuration control, thrust reversers and engine wash services for 800 F117 engines.

In September, Pratt & Whitney landed a $491 million production contract for F135 propulsion systems to be used in 12 F-35 Lightning II airplanes.

In July, the company received an $83 million contract to manufacture and supply CIT Aerospace with its International Aero Engines V2500 engines.

Hartford, Conn.-based United Technologies reported a 2007 net income of $4.2 billion on revenue of $54.8 billion.