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East Hartford aerospace manufacturer Pratt & Whitney has agreed to a long-term purchase agreement to buy nickel-based alloys and other materials for jet engines from Pittsburgh-based Allegheny Technologies Inc.
Financial terms of the deal were not disclosed.
The long-term contract, expected to last through 2030, builds upon a contract entered last year, and is projected to generate revenues in excess of $1 billion, the two companies said.
“Agreements like this secure sources of parts and components for years to come and ensure the capacity investments to support our production ramp," said Sam Abdelmalek, Pratt & Whitney vice president, global supply chain.
Nickel-based powder alloys and materials called isothermal forgings are parts and components used to build jet engines, said Rich Harshman, ATI’s CEO. The materials will be used on Pratt’s PurePower geared turbofan engine and on the F-135 engine for the Joint Strike Fighter program, Harshman said. Demand for the geared turbofan engine is expected to “grow dramatically in the next decade and beyond” to support next-generation aircraft, he said.
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Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
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