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United Technologies Corp Completes Divestiture Of Pratt & Whitney Power Systems Unit To Mitsubishi Heavy Industries Ltd

Friday, 17 May 2013 01:00pm EDT 

United Technologies Corp announced that it has completed the divestiture of its Pratt & Whitney Power Systems unit to Mitsubishi Heavy Industries Ltd (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. 

Company Quote

-1.37 -1.17%
19 Dec 2014