Pratt & Whitney, a unit of United Technologies Corporation UTX, inked a historic contract with the Israeli Ministry of Defense (“IMOD”) to provide support to the Israeli Air Force — marking the longest-term, most comprehensive performance-based logistics contract for its fighter engines to date.
Under the fleet management program (“FMP”) contract, Pratt & Whitney will ensure 100% daily propulsion readiness for the whole Israeli fleet of F-15I and F-16I aircraft for the next 15 years. From Jan 1, 2016, Pratt & Whitney will deliver full propulsion sustainment support — which covers item repair management, material forecasting and provisioning of operational, intermediate and depot-level spare parts — for Israeli Air Force’s fleet of F100-PW-229 engines.
Pratt & Whitney’s services will incorporate the most recent advancements in FMP services that are available to its military customers.
The FMP provides the Israeli Air Force with critical resources to carry out its missions. The Pratt & Whitney contract is based on decades of experience in working together and an excellent track record on the Air Force’s former material management program.
The exceptional length of the contract will actually enable Pratt & Whitney to unlock efficiencies across the fleet while ensuring daily readiness, thus generating savings on both money and time.
The Israeli Air Force has been using Pratt & Whitney-powered aircraft for over 65 years now. Pratt & Whitney has over 90 years of experience and provides aircraft operators with highly technical expertise and services.
United Technologies 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.
United Technologies currently has a Zacks Rank #3 (Hold). Some better-ranked conglomerates that look promising now include Compass Diversified Holdings CODI, Federal Signal Corp. FSS and Macquarie Infrastructure Corporation MIC, each sporting a Zacks Rank #2 (Buy).
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