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Pratt & Whitney and Kale Aero Sign Agreement for Joint Venture Partnership

Posted on: Tuesday, 16 June 2009, 09:01 CDT

LE BOURGET, France, June 16 /PRNewswire-FirstCall/ -- PARIS AIR SHOW -- Pratt & Whitney and Kale Havacilik San, A.S., (Kale Aero) of Istanbul, Turkey, signed a memorandum of understanding today at the Paris Air Show with the intent to develop a joint venture partnership to produce aircraft engine components. Under the proposed joint venture, Kale will own 51 percent and Pratt & Whitney will own 49 percent of the joint venture company located in Istanbul. Pratt & Whitney is a United Technologies Corp. (NYSE: UTX) company.

"We look forward to the new venture and working with our partners in Turkey," said Tom Farmer, president, Pratt & Whitney Military Engines. "Turkey is an important customer for Pratt & Whitney and we value the industrial capabilities and expertise of the Turkish aerospace industry. This partnership will establish a world-class manufacturing capability to produce military and commercial aircraft engine components for our customers around the world."

The joint venture will specialize in manufacturing hardware for the F135 engine powering the F-35 Lightning II aircraft. In the future, the partnership will expand to support highly complex metal fabrications and spare parts for Pratt & Whitney military fighter engine models F100 and F119, and military transport engine model F117.

"We are happy and proud to embark on this road together with the world's leading aero engine manufacturer, Pratt & Whitney," said Osman Okyay, president, Technical & Chemical Division, Kale Group Companies. "Kale Aero is placing top priority on the F-35 program. We were the first qualified supplier from Turkey selected for this project, the largest defense industry project ever, and we pride ourselves for being the only Turkish company with parts on the first flying F-35 Lightning II aircraft. Kale Aero has also undertaken the task of manufacturing parts for the F135 engine, and our excitement is further enhanced by the fact that through this joint venture partnership, we will greatly expand our contribution to this great engine."

Kale Aero is part of a large and a diversified industrial conglomerate of Turkey, Kale Group. The group embracing over fifty years of experience in building materials is also active in robotics, energy, defense and aerospace. Kale has been a reliable supplier in various national and multi-national defense and aerospace projects since 1989.

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and commercial building industries.

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 the U.S. Government funding related to the F-35 and F135 programs, changes in government procurement priorities and practices or in the number of aircraft to be built; challenges in the design, development, production and support of technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corporation's Securities and Exchange Commission filings.

Erin Dick Matthew Perra Pratt & Whitney Military Engines Pratt & Whitney Int'l Mobile: +1.860.726.8387 Int'l Mobile: +1.860.595.6515 erin.dick@pw.utc.com matthew.perra@pw.utc.com

SOURCE Pratt & Whitney

Source: PR Newswire

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