Pratt & Whitney Signs Ten-Year Agreement with Volvo Aero Norway for Engine Shaft Production
Pratt & Whitney signed a ten-year agreement with Volvo Aero Norway to produce military engine shafts for Pratt & Whitney engines including the F135 powering the F-35 Lightning II and the F119 powering the F-22 Raptor. The contract has the potential value of $61 million USD. Pratt & Whitney is a United Technologies Corp. (NYSE:UTX) company.
"This long-term agreement with Volvo Aero Norway illustrates our confidence in their ability and commitment to deliver high quality, reliable products for Pratt & Whitney fifth generation fighter engines," said Warren Boley, President of Pratt & Whitney military engines. "We are proud of our continuing relationship with Volvo Aero Norway, and we value them as a world-class producer of dependable, best value product for the F135 engine."
Volvo Aero Norway produces shafts for several Pratt & Whitney engines including the F100, F119 and F135 and produced all the shafts used during the highly successful F135 engine development program. These engine shafts are safety critical components which drive the engine's fan compressor allowing optimal engine performance, and are designed to withstand severe loads and torque. Volvo Aero Norway will also produce the intermediate case and diffuser case for the F135. Ongoing discussions are being held between Pratt & Whitney and Volvo Aero Norway to expand the involvement on the F135 engine program with other components.
"We are very pleased with this agreement, which confirms our position as a shaft supplier and long-term partner for Pratt & Whitney," says Odd Tore Kurverud, CEO of Volvo Aero Norway.
"For more than 25 years, Pratt & Whitney has had a tremendous relationship with Norwegian industry, supporting the Royal Norwegian Air Force with the Pratt & Whitney F100 engine," Boley said. "The F135 powering the F-35 Lightning II offers another opportunity for decades of dedicated customer service and support between Norway and Pratt & Whitney."
Volvo Aero develops and manufactures components for aircraft and rocket engines with high technology content in cooperation with the world's leading producers. Volvo Aero offers an extensive range of services, including sales of spare parts for aircraft engines and aircraft, sales and leasing of aircraft engines and aircraft, as well as overhaul and repair of aircraft engines. Volvo Aero is part of the Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. The Group also provides complete solutions for financing and service.
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries.
This press release contains forward-looking statements concerning future business opportunities and operational engine performance. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in funding related to the F-35 aircraft and F135 engines, changes in government procurement priorities and practices or 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.