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News Breaks
January 31, 2013
05:37 EDTUTXPratt & Whitney broke ground on first manufacturing facility in Singapore
Pratt & Whitney Singapore Manufacturing broke ground on a new facility at the Seletar Aerospace Park. This new production facility will manufacture fan blades and high pressure turbine disks for Pratt & Whitney's PurePower Geared Turbofan engines. This new 180,000 square foot facility will border Pratt & Whitney's existing flagship facility at Seletar , Pratt & Whitney Singapore Component Repair, further expanding the company's 30-year presence in the country. Pratt & Whitney, a division of United Technologies, has invested nearly $110M in the development of these two new facilities. With the construction of this new facility, Pratt & Whitney's work force in Singapore is expected to increase to more than 2,500 people over the next five years, making it home to the company's most comprehensive aftermarket presence in one location.
News For UTX From The Last 14 Days
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April 17, 2015
06:41 EDTUTXUnited Technologies April weekly volatility elevated into Q1 and outlook
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April 16, 2015
09:10 EDTUTXUnited 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 EDTUTXUBS 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 EDTUTXSikorsky Aircraft awarded $480M government contract
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06:22 EDTUTXDoD 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 EDTUTXCourt 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 EDTUTXUTC 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.

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