Pratt & Whitney, a division of United Technologies Corp (UTX), and Kawasaki Heavy Industries Ltd. – a manufacturer and seller of transportation equipments and industrial goods, recently signed a risk and revenue sharing partnership agreement to provide key hardware modules for Pratt & Whitney's PurePower Geared Turbofan (GTF) engines.
Pratt & Whitney’s GTF engines offer less fuel consumption, lower emissions, reduced engine noise and lower operating costs. Pratt & Whitney presently has 10 GTF collaboration partners globally. These multiple partnership agreements further justify Pratt & Whitney’s technological capabilities and commitment to deliver exceptional customer value. The collaboration agreements provide for the contribution of over $49 billion in hardware modules and assembly and test services by the partners over the life of the programs.
Pratt & Whitney is among the world’s leading suppliers of aircraft engines for the commercial, military, business jet and general aviation markets. Pratt & Whitney’s Global Services segment provides maintenance, repair and overhaul services, including the sale of spare parts, as well as fleet management for large commercial engines.
Based in Hartford, CT, United Technologies – the parent firm of Pratt & Whitney, provides high-end technology products and services to the building systems and aerospace industries worldwide. The company serves various end markets such as aerospace, defense and commercial construction. The business diversification allows United Technologies to remain profitable amid a challenging macroeconomic environment.
United Technologies currently has a Zacks Rank #3 (Hold). Other stocks that look promising in the industry and are worth a look now include Kadant Inc. (KAI) carrying a Zacks Rank #1 (Strong Buy) and The Babcock & Wilcox Co. (BWC) and Middleby Corp. (MIDD), both carrying with a Zacks Rank #2 (Buy).
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