|October 22, 2013|
|10:40 EDT||GD, UTX||UTC Aerospace Systems selected by General Dynamics unit|
UTC Aerospace Systems has been selected by General Dynamics (GD) Land Systems unit to design, develop, build and qualify the Generator Subsystem for the Abrams ECP1 modernization upgrade. The generator subsystem includes both the electric generator and CAN-bus-enabled digital controller. Prototype systems will be delivered to GDLS in 2H14 for installation and qualification field testing on the Abrams. UTC Aerospace Systems is a unit of United Technologies.
News For UTX;GD From The Last 14 Days
|April 17, 2015|
|06:41 EDT||UTX||United Technologies April weekly volatility elevated into Q1 and outlook |
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|April 16, 2015|
|09:10 EDT||UTX||United Technologies' Rig Approach certified by Transport Canada Civil Aviation|
United Technologies subsidiary Sikorsky Aircraft Corp.'s Rig Approach for the S-92 helicopter has received certification by Transport Canada Civil Aviation. Rig Approach provides helicopter operators with an automated approach to offshore rigs and platforms.
|April 15, 2015|
|07:54 EDT||UTX||UBS to hold a field trip|
Field Trip where meetings with private and public aerospace aftermarket companies and aviation investors will be held during the MRO Americas 2015 Conference being held in Miami Beach on April 15.
|April 10, 2015|
|17:12 EDT||UTX||Sikorsky Aircraft awarded $480M government contract|
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|06:22 EDT||GD, UTX||DoD enacts stricter rules on research spending by contractors, WSJ says|
The Department of Defense is enacting stricter rules on how defense companies can spent $4B of the department's research budget, following a report that explained that much of the budget was used to increase contractors' bids or to develop their own proprietary technology, reports the Wall Street Journal. Publicly traded companies in the space include BAE Systems (BAESY), Boeing (BA), General Dynamics (GD), Lockheed Martin (LMT), Northrop Grumman (NOC), Raytheon (RTN) and United Technologies (UTX).
|April 8, 2015|
|17:25 EDT||UTX||Court reverses $664M judgment against United Technologies|
In a regulatory filing, United Technologies (UTX) reports that on April 6, the Sixth Circuit Court of Appeals rendered a decision in the litigation concering the F100 engine. The litigation arose from allegations by the U.S. Department of Justice that Pratt & Whitney -- a United subsidiary -- violated the civil False Claims Act relating to the competition between Pratt & Whitney's F100 engine and General Electric's (GE) F110 engine, resulting in alleged overpayments by the government for F100 engines under contracts awarded by the U.S. Air Force in fiscal years 1985-1990. On June 17, 2013, a trial court in Ohio rendered a decision awarding the government $473M in damages and penalties, plus prejudgment interest for a total judgment of approximately $664M. In its latest decision, the Sixth Circuit reversed the trial courtís judgment, noting that the government did not prove any damages, and remanded the case to the trial court to decide whether the government should have another opportunity to prove that it suffered any actual damages.
|April 6, 2015|
|08:01 EDT||UTX||UTC Aerospace Systems awarded contract for Naval Undersea Warfare Center|
UTC Aerospace Systems has reached an agreement with the U.S. Naval Undersea Warfare Center to provide high frequency acoustic windows for submarines. The five-year indefinite delivery, indefinite quantity contract covers deliveries through 2020 to the U.S. Navy. Work will be performed by the Engineered Polymer Products team in Jacksonville, Florida, which is part of UTC Aerospace Systems' Aerostructures business. UTC Aerospace Systems is a unit of United Technologies.