UTC Aerospace Systems, a division of
United Technologies Corp
), recently signed a long-term service agreement with ST
Aerospace for Boeing 787 fleet. The license agreement
entails ST Aerospace to provide maintenance, repair and overhaul
(MRO) services to UTC Aerospace Systems while developing
components for the Boeing 787 aircraft.
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ST Aerospace (Singapore Technologies Aerospace Ltd) is the
largest commercial airframe MRO provider. It is the aerospace arm
of ST Engineering, an integrated engineering group providing
solutions and services for aerospace, electronics, land systems
and marine sectors. ST Aerospace's customer base includes
advanced military forces, major airlines and leading freight
Under this agreement, ST Aerospace will provide reliable
nose-to-tail maintenance solutions for UTC Aerospace Systems
components installed on the Boeing 787. With the prevailing
competitive environment in the aviation industry, UTC Aerospace
primarily aims to build long-term customer relationship and this
agreement is a further initiative in this regard. Moving forward,
ST Aerospace aims to provide adaptive maintenance solutions to
Boeing 787 operators to offer long-term value to its customers.
Based in Hartford, Conn., United Technologies provides high-end
technology products and services to the building systems and
aerospace industries worldwide. The company is a diversified
business conglomerate serving various end markets such as
aerospace, defense and commercial construction. The business
diversification allows the company to remain profitable during
tough economic times.
The operations of the company are primarily classified into two
principal businesses: commercial and aerospace. The aerospace
business of the company consists of Sikorsky aircraft and the UTC
Propulsion & Aerospace Systems, which includes UTC Aerospace
Systems and Pratt & Whitney divisions. In the last reported
quarter, UTC Aerospace systems sales was $3,263 million compared
with $1,236 million in the year-ago quarter.
UTX currently has a Zacks Rank #3 (Hold). Other stocks that look
promising and are worth a look now in the industry include
Compass Diversified Holdings
Hutchison Whampoa Ltd
), each carrying a Zacks Rank #2 (Buy).