PARIS AIR SHOW, Paris, June 16,
2015 /PRNewswire/ -- Esterline Technologies Corporation
(NYSE: ESL) and United Technologies Corp. (NYSE: UTX) today
announced that they have finalized a long-term supply agreement to
support production at UTC's aerospace businesses.
The UTV2 long-term supply agreement secures contracts
for critical engineered items required by UTC at its aerospace
business units, Pratt & Whitney, Sikorsky and UTC Aerospace
Systems, on key programs including E2, MRJ, S-92, A350 and B787.
This agreement positions Esterline to become a preferred source to
UTC and its aerospace business units for products from all three
Esterline business segments: Advanced Materials; Sensors &
Systems; and Avionics & Controls.
"This is an important step in further developing our
long-standing relationship with UTC. We are very pleased to have
been selected to design and manufacture critical components and
systems on key programs like E2, MRJ, B787, S-92 and A350," said
Curtis Reusser, Chairman, President
and CEO of Esterline, adding, "We appreciate that UTC recognizes
the value we bring to the partnership and these programs, and this
agreement will allow us to continue growing our business with UTC
in a mutually beneficial manner."
In addition to signing a long-term agreement, Esterline
Technologies is actively engaged in the UTC Supplier Gold program
and committed to the UTV2 cost-savings
initiative and UTC Contract Governance program, which sets high
standards for quality and on time delivery.
Sam Abdelmalek, Vice President,
Global Supply Management and Integration, United Technologies,
said, "We are very pleased to announce this agreement with
Esterline and commend them for their commitment to meeting UTC's
high standards for quality and performance, as well as contractual
governance and UTV2 savings. UTC's aerospace businesses
are well positioned for growth over the coming years. Suppliers
like Esterline, who commit to our new contractual standards, meet
our demanding performance requirements and satisfy our
UTV2 cost-savings initiatives, will have the opportunity
to share in this growth for years to come."
Esterline Corporation is a leading worldwide supplier to the
aerospace and defense industry specializing in three core areas:
Advanced Materials; Avionics & Controls; and Sensors &
Systems. Operations within the Advanced Materials segment focus on
technologies including high-temperature-resistant materials and
components used for a wide range of military and commercial
aerospace purposes, and combustible ordnance and electronic warfare
countermeasure products. Operations within the Avionics &
Controls segment focus on technology interface systems for
commercial and military aircraft and similar devices for land- and
sea-based military vehicles, cockpit integration systems, secure
communications systems, specialized medical equipment, and other
high-end industrial applications. The Sensors & Systems segment
includes operations that produce high-precision temperature and
pressure sensors, specialized harsh-environment connectors,
electrical power distribution equipment, and other related systems
principally for aerospace and defense customers.
United Technologies Corp., based in Hartford, Connecticut, provides
high-technology systems and services to the building and aerospace
industries. To learn more about UTC, visit the website at
www.utc.com or follow the company on Twitter: @UTC.
Statements contained in this press release regarding future
events or performance, other than recitation of historical facts,
are forward-looking statements. These statements are identified by
words such as "may," "will," " begin," " look forward," "expect,"
"believe," "intend," "anticipate," "should", "potential,"
"estimate," "continue," "momentum" and other words referring to
events to occur in the future. These statements reflect the
Company's current view of future events and are based on its
assessment of, and are subject to, a variety of risks and
uncertainties beyond its control, including, but not limited to,
the state of the world financial, credit, commodities and stock
markets, and uncertainties regarding the Company, its businesses
and the industries in which it operates, which are described in the
Company's filings with the Securities and Exchange Commission. The
Company is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
CONTACTS:
Julie Albrecht, Esterline
Technologies Corporation, 425-453-9400
Danielle Canzanella, United
Technologies, 860-728-6238
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SOURCE United Technologies Corp.