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United Technologies Corp 1.875% Notes 2026 UTX.26



NYSE:UTX.26 - Post by User

Post by egewon Jul 11, 2016 9:53am
331 Views
Post# 25040579

Pratt & Whitney and Rolls-Royce ...

Pratt & Whitney and Rolls-Royce ...

Pratt & Whitney, Rolls-Royce Team Up to Provide Comprehensive Support for UK F-35B at RAF Marham

July 11, 2016

Pratt & Whitney, a division of United Technologies Corp. (NYSE: UTX), and Rolls-Royce will join forces to provide comprehensive technical support at Royal Air Force Marham to support F135 engines and the LiftSystems on the U.K.'s F-35B Lightning II aircraft.

The two industry-leading engine companies will institute a Performance-Based Logistics (PBL) approach to sustainment for the propulsion systems. A PBL contracting structure incentivizes contractors to focus on outcomes such as propulsion system availability, leading to greater efficiencies, mutual cost reductions, and operator benefits.

The companies formalized the new working relationship by signing a memorandum of understanding, agreeing to increase levels of cooperation and improve synergy as they join forces in support of the customer.

The agreement defines how the companies will collaborate and grow their sustainment capabilities. Pratt & Whitney, lead propulsion integrator for the F-35 program, will focus primarily on system-level performance of its F135 engines. Rolls-Royce will lead on support for the LiftSystem technology the company developed and produced, while also undertaking some delegated support work on the main F135 engine. The two companies will also look to duplicate this support model for other F-35B customers.

"With this new agreement, we'll be able to provide optimum service and sustain the F135 Propulsion System and the LiftSystem to meet the growing global demands of the F-35 customer base," said Bennett Croswell, president, Pratt & Whitney Military Engines.

"This new agreement demonstrates the commitment from both companies to keep the customer at the heart of what we do, focusing on meeting their needs in the most cost-effective and efficient manner possible," said Chris Cholerton, president, Rolls-Royce Defence Aerospace. "Rolls-Royce has been supporting the U.K.'s military aircraft fleets for more than 100 years, and we look forward to matching the innovation of this fantastic aircraft with an equally innovative support program."

The new agreement will focus the strengths of both companies to provide the best possible service solution in a more affordable and effective way for customers. The agreement will draw the companies closer together and lay the groundwork for further enhancing support for the propulsion systems in the future.

Pratt & Whitney and Rolls-Royce already support F-35B aircraft flown by the U.K. and U.S. Marine Corps across the United States.

Click here for more.

About Pratt & Whitney

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units. United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. To learn more about UTC, visit its website atwww.utc.com, or follow the company on Twitter: @UTC.

This press release contains forward-looking statements concerning future business opportunities and projected savings. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in government procurement priorities and practices, budget plans and availability of funding, and in the number of aircraft to be built; challenges in the design, development, production and support of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corp.'s Securities and Exchange Commission filings.

 
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