FARNBOROUGH AIRSHOW - Today, Pratt & Whitney and IAE International Aero Engines (IAE)
shareholders, Japanese Aero Engines Corporation and MTU Aero Engines
GmbH, announced details of the June 29 closing of Pratt & Whitney’s
agreement to purchase Rolls-Royce’s program share in the IAE
Collaboration. Pratt & Whitney has increased its program share to 61
percent and MTU Aero Engines has increased its program share from 11 to
16 percent via a separate risk revenue sharing agreement with Pratt
& Whitney. In addition, IAE announced that the IAE board of
directors has named Pratt & Whitney President David Hess Chairman of
the board of directors and Jon Beatty as the new IAE president.
The program share purchased from Rolls-Royce is held by a Pratt &
Whitney wholly-owned subsidiary named Pratt & Whitney Aero Engines
International GmbH (P&WAEI) headquartered in Luzern, Switzerland.
P&WAEI will assume responsibilities and obligations in the IAE
collaboration for most parts and sourcing previously handled through
Rolls-Royce.
Click here to read the Pratt & Whitney press release.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment