MB Aerospace Group Gets $1 Bln Contract With United Tech

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(RTTNews.com) - International aerospace engineering group MB Aerospace said that it has signed a new 10-year contract with United Technologies Corp. ( UTX ) with a potential value of up to $1 billion over the life of the contract. The new contract will see MB Aerospace supply complex performance critical aero-engine components and assemblies for content across the full range of Pratt & Whitney (PW) engine programs.

The group described the new contract as a "milestone opportunity" and estimates an additional 160 engineering specialists have been and will be recruited within the next 3-5 years to service the new contract and meet wider industry demand.

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This article appears in: World Markets , Stocks
Referenced Symbols: UTX

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