United Technologies Divests Pratt & Whitney Power Systems to Mitsubishi Heavy Industries
United Technologies Corp. (NYSE: UTX) has announced that it has completed the divestiture of its Pratt & Whitney Power Systems unit to Mitsubishi Heavy Industries (MHI).
Terms of the agreement were not disclosed. Divesting Power Systems allows UTC to focus on its core aerospace and commercial businesses. Pratt & Whitney has entered into a long-term agreement with MHI under which Pratt & Whitney will provide certain engineering and manufacturing services to MHI in connection with the development of the FT4000, Power Systems’ next-generation industrial gas turbine.
Under the long term agreement, P&W has also agreed to provide GG8 turbines to MHI. Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, auxiliary and ground power units and small turbojet propulsion products. United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries. More at Pratt Whitney.
Category: Engines & Drivetrains, General Update
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
