Pratt & Whitney Global Service Partners Purchases Remaining Japan Turbine Technologies Shares from Japan Airlines
EAST HARTFORD, Conn., Thursday, July 21, 2011
Pratt & Whitney Global Service Partners has purchased Japan Airlines' stake in Japan Turbine Technologies, a commercial gas turbine engine part repair facility. Pratt & Whitney is a United Technologies Corp. (NYSE: UTX) company.
Japan Turbine Technologies has been a joint venture between Pratt & Whitney and Japan Airlines since 2000, with Pratt & Whitney being the majority partner since that time. With the acquisition of Japan Airlines' 33.4 percent stake, Japan Turbine Technologies becomes a wholly owned Pratt & Whitney facility.
"Pratt & Whitney Global Service Partners is pleased to complete the acquisition of Japan Turbine Technologies," said Tom Hutton, Pratt & Whitney Global Service Partners vice president. "We look forward to providing our customers with the same world-class repair services they have come to expect from Pratt & Whitney Global Service Partners' worldwide network."
Based just outside Tokyo, Japan Turbine Technologies provides repair services for turbine airfoils installed on large commercial gas turbine engines. The agreement's financial terms were not disclosed.
Pratt & Whitney Global Service Partners is a total service provider for engines made by Pratt & Whitney, International Aero Engines, General Electric, Rolls-Royce and CFMI. 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 commercial building industries