Pratt & Whitney, a United Technologies Corp. company (NYSE: UTX), is making significant investments in its global facilities as the company prepares for an increase in commercial and military engine production.
"This is a very exciting time for Pratt & Whitney," said Danny Di Perna, senior vice president of Engineering & Operations. "Over the next few years we will significantly increase our engine production. While these investments will transform our global operations, more importantly, they will ensure we are prepared to deliver this increase in volume to our customers with the world-class quality they have come to expect."
These investments are part of a five-year capital expenditure plan from 2013-2017 focusing on technology improvements and facility expansions. The investments include:
- • A more than $400 million investment to expand the company's East Hartford and Middletown, Conn., facilities.
- • A $63 million project to expand for the company's West Palm Beach, Fla., facility, which is slated for a June grand opening.
- • A $140 million expansion at the company's Advanced Coating Technology facility in Wallkill, New York.
- • A $110 million investment in Singapore to build a new 180,000-square-foot manufacturing facility, slated to open later this year, and new repair and engineering facility that opened in December 2013.
"Pratt & Whitney's manufacturing strategy is based on balancing capability, capacity, flexibility and affordability to offer our customers as much value as possible," Di Perna said. "Our next generation engine programs give Pratt & Whitney the opportunity to increase assembly and machining capacity globally, invest in smart technologies, introduce new capabilities and improve efficiency in our factories to be leaner."
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, auxiliary and ground power units, and small turbojet propulsion products. United Technologies Corp., based in Hartford, Connecticut, provides high technology products and services to the building and aerospace industries. To learn more about UTC, visit its website at www.utc.com, or follow the company on Twitter: @UTC.
This press release contains forward-looking statements concerning future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in levels of demand in the aerospace industry, in levels of air travel, and 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 the companies' Securities and Exchange Commission filings.