South Korea’s Hanwha Techwin has entered into a deal with United Technologies International Corporation-Asia to purchase a 30% equity interest in Pratt & Whitney (P&W) subsidiary P&W NGPF Manufacturing Company Singapore (PWMS).
PWMS currently manufactures hybrid metallic fan blade parts and high-pressure turbine disks for the company’s PurePower geared turbofan (GTF) engine family.
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According to the new joint venture deal, P&W will continue to own the sourcing of critical parts and share capital investment requirements with Hanwha.
Hanwha also bought a call option from P&W to purchase more equity by 2023.
Expected to be completed by the end of this month, the deal has also increased increasing Hanwha's programme share on both P&W's 24,000lb and 30,000lb thrust GTF engine programmes by 1% each.
P&W strategy and business development vice-president Dave Emmerling said: "The acquisition of Samsung Techwin by Hanwha in June 2015 created what we believe is a generational opportunity for both companies.
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By GlobalData"Hanwha's capabilities and performance, combined with their willingness to invest, positions them well to maintain a strong relationship with Pratt & Whitney both today and into the future.”
Hanwha currently manufactures mid-turbine frames, diffuser cases, high-pressure split cases and nickel integrally bladed rotors for P&W's GTF engine family.
A unit of United Technologies, P&W is involved in the design, manufacture and service of aircraft engines and auxiliary power units.
Image: Deal singing between Hanwha Techwin and Pratt & Whitney. Photo: courtesy of United Technologies Corporation – Pratt & Whitney Division.
