Pratt & Whitney, a division of United Technologies Corp. UTX, recently awarded a contract to Danish precision component manufacturer Multicut A/S for manufacturing components for its F135 engine.
Multicut will manufacture key components of the F135 engine at its modern facility for manufacturing complex machined parts and subassemblies. Pratt & Whitney entered into a 10-year procurement agreement with Multicut after a global search for suppliers. Its manufacturing excellence, combined with modern equipment and advanced technology will ensure high-quality products.
The strategic move by Pratt & Whitney is aimed to reinforce its supply of engine components from reputed suppliers for positioning itself well to capitalize on the bright prospects of the fifth generation F-35 Lightning II aircraft. The agreement is expected to ensure that Pratt & Whitney's rigorous standards concerning quality, cost and delivery requirements are adhered by the chosen supplier.
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 provide maintenance, repair and overhaul services, including the sale of spare parts, as well as fleet management services for large commercial engines.
United Technologies, the parent company of Pratt & Whitney, provides high-end technology products and services to building systems and aerospace industries worldwide. This diversified business conglomerate serves 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). Stocks that look promising in the industry include Middleby Corp. MIDD, Swire Pacific Ltd. SWRAY and NeoPhotonics Corp. NPTN, each carrying a Zacks Rank #2 (Buy).
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