Molymet Expands Relationship with Pratt & Whitney with $690 Million Deal
Thursday, September 4, 2014
Molymet has entered into long-term agreements valued at $690 million with Pratt & Whitney. Under the agreements, Molymet will continue to supply rhenium to be used across all of Pratt & Whitney's engine programs, including the next-generation PurePower® engine family and F135 military engine that will power the F-35 Lightning II.
"We are pleased to further expand our relationship with Pratt & Whitney, a company with the highest standards for quality, delivery, cost and performance," said John Graell Moore, executive president, Molymet. "Part of our mission at Molymet is to provide our customers with solutions to meet their specific needs. We are proud to do this for Pratt & Whitney and support the company as they increase engine production."
"At Pratt & Whitney, we are preparing to more than double our commercial and military engine production. This is an exciting time for us as well as an opportunity for our suppliers. Molymet will be part of our growth story and will provide secure sources of valuable raw material for years to come," said Sergio Loureiro, vice president, Strategic Sourcing and Contracts, Pratt & Whitney. "Molymet has proven that they are a dependable supplier. We are actively seeking suppliers like Molymet who can consistently meet our stringent delivery, quality and performance."
As the provider of the F135 engines for the F-35 and with more than 6,000 orders and commitments for the PurePower Geared Turbofan™ engine family, Pratt & Whitney expects to more than double production by the end of the decade. In preparation for the ramp, Pratt & Whitney is investing heavily in its global manufacturing network and bringing on suppliers who can deliver high-quality parts and materials.
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