Hamilton Sundstrand, a subsidiary of United Technologies Corp. (NYSE:UTX), announced more than $2.6 billion in new business at the 2009 Paris Air Show. The new business includes cumulative revenues over the expected life of the agreements.
That new business includes OEM agreements with Airbus on its new A350XWB (Extra Wide Body) aircraft family and Bombardier on its new CSeries commercial aircraft family, as well as aftermarket agreements with Air France Industries, Global Aviation Holdings, KLM Engineering & Maintenance, Lockheed Martin, Sabena technics and SilkAir.
Hamilton Sundstrand aftermarket agreements come in the form of spare parts, repair, Maintenance Service Programs, On-Site Support, and Comprehensive Asset Repair and Exchange (C.A.R.E.).
"Hamilton Sundstrand is proud to offer airlines, MRO partners and OEM customers reliable, convenient and cost-effective support," said Matthew Bromberg, Hamilton Sundstrand Customer Service vice president and general manager. "Our comprehensive product offering and best-in-class service network allow us to offer the most flexible and competitive maintenence solutions in the industry."
With 2008 revenues of $6.2 billion, Hamilton Sundstrand employs approximately 18,000 people worldwide and is headquartered in Windsor Locks, Conn. Among the world's largest suppliers of technologically advanced aerospace and industrial products, the company designs, manufactures and services aerospace systems and provides integrated system solutions for commercial, regional, corporate and military aircraft. It also is a major supplier for international space programs.
United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries worldwide.
This release includes "forward looking statements" concerning business opportunities and other matters that are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include changes in economic conditions and airline flight hours; challenges in the design, development, production and support of advanced technologies and new products; and delays and disruption in delivery of materials and services from suppliers. For information identifying other important legal, technological, competitive and other uncertainties, see UTC's SEC filings as submitted from time to time, including but not limited to, the information included in UTC's 10-K and 10-Q Reports under the headings "Business," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Note Concerning Factors that May Affect Future Results," as well as the information included in UTC's Current Reports on Form 8-K.