Pratt & Whitney subsidiary United Technologies International Corporation-Asia Private Limited, and Hanwha Techwin Co., Ltd. have signed an agreement for Hanwha to acquire a 30 percent equity interest in P&W NGPF Manufacturing Company Singapore Pte. Ltd., the company said.
Under this joint venture arrangement, Pratt & Whitney retains control of the sourcing of critical parts while sharing capital investment requirements with Hanwha.
In conjunction with this agreement, Pratt & Whitney and Hanwha are expanding their risk and revenue sharing collaboration, increasing Hanwha´s program share on both Pratt & Whitney´s 24,000- 30,000 (30K) pound thrust GTF programs by one percent each.
Pratt & Whitney designs, manufactures and services 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.