Pratt & Whitney and Hanwha Aerospace Co., Ltd. Sign GTF™ Engine Aftermarket Agreements

Paris, June 17, 2019 – Pratt & Whitney, a division of United Technologies Corp. (NYSE: UTX), and Hanwha Aerospace Co., Ltd. today announced that they have signed agreements making Hanwha eligible as a repair source for parts and components on the GTF™ engine. Hanwha brings over 35 years of overhaul and repair experience and coating capabilities to Pratt & Whitney’s GTF aftermarket network.

“We are focused on adding capacity and experience to best service our customers as we see shop visits increasing over the next several years,” said Joe Sylvestro, vice president, Aftermarket Operations at Pratt & Whitney. “Hanwha's capabilities, combined with their willingness to invest, positions them well to support that growth with us today and into the future.”

“We look forward to participating in the GTF aftermarket network. This expanded relationship with Pratt & Whitney contributes to Hanwha’s goal to become a major global player in the aircraft engine industry and a partner to the world’s leading aircraft engine manufacturers,” said Hyun-Woo Shin, president and CEO of Hanwha Aerospace Co., Ltd.

Hanwha has worked with Pratt & Whitney since 1985 and has been a risk and revenue sharing partner on all GTF engine programs since 2015.

The GTF engine MRO network has grown significantly since the engine entered service, with engine overhaul shops located on three continents. GTF engines will be maintained by a network of the industry’s top MRO companies. There are currently seven active GTF MRO engine shops: Pratt & Whitney Columbus Engine Center (CEC) in Georgia, U.S.; MTU Aero Engines in Hannover, Germany; IHI Aerospace in Mizuho, Japan; Lufthansa Technik (LHT) in Hamburg, Germany and Alzey, Germany; Pratt & Whitney West Palm Beach in Florida, U.S.; and Pratt & Whitney Eagle Services Asia (ESA) in Singapore. There will be 10 active GTF MRO engine centers by 2020.

The GTF MRO network is part of Pratt & Whitney's EngineWise™ service portfolio, which provides engine operators with a variety of aftermarket services to maximize engine performance and fleet availability. Visit http://www.EngineWise.com/contact for an interactive map of GTF MRO network providers and respective locations.

About Pratt & Whitney

            Pratt & Whitney is a world leader in the design, manufacture and service of aircraft and helicopter engines, and auxiliary power units. United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems 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. To receive press releases and other news directly, please sign up here.

            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 support, performance and realization of the anticipated benefits of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corp.’s Securities and Exchange Commission filings.

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