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Pratt & Whitney Pens Deal to Renew JV Agreement with China

Zacks Equity Research
Updated

Pratt & Whitney, a part of United Technologies Corp. UTX recently signed a 15-year renewal for its joint venture agreement to support its Customer Training center in Beijing, China. This agreement has been inked by United Technologies Far East Ltd. and the China Aviation Supplies (CAS) Holding company to provide customized technical training solutions.

The agreement ensures Pratt & Whitney's continued commitment to the world class training facility. Operating since over 10 years, the facility has provided training to over 14000 students across Asia for Pratt & Whitney and V2500 engines. The extension is likely to satisfy training demand in fast emerging markets. The customers in Asia are vital and this center will provide valuable training that will help them to support their Pratt & Whitney engines. This agreement will assist Chinese aircraft operators with high-quality and thorough aviation maintenance training education and training and research opportunities, which will benefit the aviation workforce

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 #4 (Sell). A couple of stocks that look promising in the industry include Graco Inc GGG and Luxfer Holdings PLC. LXFR, and Graham Corporation GHM each carrying a Zacks Rank #2 (Buy).
 

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UTD TECHS CORP (UTX): Free Stock Analysis Report
 
GRACO INC (GGG): Free Stock Analysis Report
 
GRAHAM CORP (GHM): Free Stock Analysis Report
 
LUXFER HOLDINGS (LXFR): Free Stock Analysis Report
 
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