Pratt & Whitney, a division of
United Technologies Corp
) is expected to sign a partial deal to fund operations and
maintenance of the next batch of F135 engines it is building for
Lockheed Martin Corporation
) F-35 fighter jets.
Pratt & Whitney is among the world's leading suppliers of
aircraft engines for the commercial, military, business jet and
general aviation markets. It is the sole supplier of F135 engines
for all three variants of the F-35 fighter jet. Going forward,
Pratt & Whitney is expected to cut down the cost of the F135
engines by at least 2.5%. This deal is expected to be followed by
another agreement for the manufacture of new engines in 2014.
The next two batches of engines to come under production, the
seventh and eighth production contracts will consist of about 40
engines each and will see the separation of the manufacturing and
maintenance portions to ensure increased specialization.
Recently, Pratt & Whitney also opened a new F100 engine
overhaul facility in Columbus, Ga. The new 105,000 square-feet
facility enhances Pratt & Whitney's capacity to service
engines that power F-16 and F-15 fighter aircrafts used by the
U.S. Air Force and international military 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.
United Technologies currently has a Zacks Rank #3 (Hold).
Better ranked stocks in the industry include
Hutchison Whampoa Ltd
), both carrying a Zacks Rank #2 (Buy).
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