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Tag Archives: UTC

State Dept Clears $2B Sale of F-16 Weapons, Logistics Services to Iraq

F16Fleet

The State Department has approved Iraq’s request to buy munitions, weapons, related equipment and logistics support services for F-16 fighter jets from the U.S. government under a potential $1.95 billion foreign military sales agreement. The Defense Security Cooperation Agency said Wednesday that Iraq will use the weapons systems and logistics services to support …

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Pratt & Whitney, DoD Agree on Lot 9 & 10 F-35 Propulsion Engine Production

F35

A United Technologies Corp. (NYSE: UTX) subsidiary has reached an agreement with the Defense Department to produce lots 9 and 10 of F135 engines for the Lockheed Martin-built (NYSE: LMT) F-35 Lightning II aircraft. Pratt & Whitney will build 167 F135 low-rate initial production propulsion engines for the three F-35 variants and provide …

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Robert Leduc Appointed President of UTC’s Pratt & Whitney Unit; Gregory Hayes Comments

UTClogo

Robert Leduc, a 35-year veteran of United Technologies Corp. (NYSE: UTX), has been named president of UTC’s aircraft engine unit Pratt & Whitney. He will succeed Paul Adams, who has led the business since 2014 and will retire by the end of February after a 17-year career at UTC, the company said Thursday. Leduc is a former president …

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Pratt & Whitney Awarded $318M Air Force F119 Engine Maintenance Contract Modification

manufacturing, engineering gears

Pratt & Whitney, a United Technologies Corp. (NYSE: UTX) subsidiary, has received a $317.8 million contract modification to maintain F119 engines for the U.S. Air Force. The Defense Department said Thursday the company is scheduled to complete work under the contract on Dec. 31. The Air Force uses F119 engines to …

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Bruce Tanner: Lockheed to Extend IT-Govt Services Business Review, Eyes Decision by March 2016

lockheed martin

Lockheed Martin (NYSE: LMT) will delay a final decision on a spinoff or sale of a bulk of its information technology and government services businesses until the end of March in order to review offers from potential buyers, the company’s chief financial officer told investors Wednesday. Bruce Tanner told the Credit Suisse Industrials …

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Pratt & Whitney Gets $215M Contract Modification for F-35 Sustainment Work

F-35

A United Technologies Corp. (NYSE: UTX) subsidiary has been awarded a $214.6 million contract modification by the U.S. Navy to provide F-35 hardware sustainment services to domestic and foreign military customers. The Defense Department said Wednesday that Pratt & Whitney will help sustain propulsion systems and deliver training materials in support of low-rate initial production lot 10 …

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Lockheed Appoints Dan Schultz President of New Sikorsky Unit; Marillyn Hewson Comments

Dan Schultz

Dan Schultz, formerly vice president of Lockheed Martin‘s (NYSE: LMT) ship and aviation systems business, will serve as president of the company’s newly acquired Sikorsky helicopter business. Lockheed said Friday Schultz led Sikorsky’s integration into the Lockheed mission systems and training organization as the acquisition moved toward a close last week. “He …

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Lockheed Says Sikorsky Buy to Close Friday After China Clears Deal, All Regulatory Approvals Complete

lockheed martin

China’s commerce ministry has cleared Lockheed Martin‘s (NYSE: LMT) estimated $9 billion purchase of the helicopter manufacturer Sikorsky Aircraft to mark the final regulatory approval required for the deal. Lockheed announced the review’s completion Tuesday and said it expects the transaction to close Nov. 6. The company needed approval from eight …

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October 20 Market Close: GovCon Index Neutral as Lockheed, UTC Kick Off 3Q Defense Earnings Season

GovConIndexDOWN

The GovCon Index continued to reflect a narrow range of trading activity across U.S. stock markets Tuesday with a nominal decline of 0.052 points to 73.241 as Lockheed Martin (NYSE: LMT) and United Technologies Corp. started the first full week of third quarter earnings season for many Index and other defense-GovCon companies. …

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Lockheed 3Q Earnings, Revenue Top Forecasts; Marillyn Hewson Updates IS&GS Review and Sikorsky Buy

lockheed martin

Lockheed Martin (NYSE: LMT) — one of 30 companies listed on Executive Mosaic’s GovCon Index — has reported third quarter earnings of $2.77 per share, five cents higher than the consensus Wall Street estimate and one cent above EPS figures reported for the prior year period. Profit declined 2.6 percent …

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