Pratt & Whitney and Air New Zealand Announce Engine Overhaul Joint Venture

Apr 30, 2001, 01:00 ET from Pratt & Whitney

    EAST HARTFORD, Conn., April 30 /PRNewswire/ -- Pratt & Whitney and Air New
 Zealand Limited have signed a joint venture agreement to provide engine
 overhaul and repair services for Pratt & Whitney JT8D, International Aero
 Engines V2500, and Rolls-Royce Dart engines. The new joint venture will have
 predicted revenues of over US$170 million a year within the next five years.
     "This new partnership brings together two experienced and complementary
 businesses that will better serve customers," said Jim Robinson, president
 of commercial engines and aftermarket services for Pratt & Whitney. "We
 will continue to expand our service offerings. Together, we will provide
 maintenance solutions that offer lower costs, increased reliability, and
 exceptional customer support."
     The reputation of Ansett Australia and Air New Zealand Engineering
 Services (ANNZES) has significantly contributed to landing this joint venture
 with Pratt & Whitney, believes ANNZES Senior Vice President Bill Jacobson.
     "ANNZES has an international reputation as a successful maintenance,
 repair and overhaul business. This partnership will build upon the success of
 the airline's existing Christchurch engine facility, which has been attracting
 third party work from around the world over the past 10 years," said Mr.
 Jacobson.
     The engine center, located in Christchurch, New Zealand, currently
 overhauls JT8D and Dart engines and averages 180 engine overhauls a year.
 This number is expected to grow to over 300 engines per year with the addition
 of the V2500. The introduction of this new engine and the latest engine repair
 technologies will ensure that the demands of a growing customer base in the
 Asia Pacific region and North America are met.
     ANNZES was formed when the engineering business units of Ansett Australia
 and Air New Zealand combined in 1999 to provide a unique trans-Tasman MRO
 business, to generate greater growth and to meet the needs of an expanding
 global market.
     Pratt & Whitney Aftermarket Services offers complete engine overhauls at
 facilities in Connecticut, Georgia, Texas, Singapore, Norway, Saudi Arabia
 and now New Zealand. It also provides repair services in more than 20
 locations throughout the world. In addition, it offers fleet, material and
 inventory management programs to both commercial and military customers.
     Pratt & Whitney, a United Technologies Company, is a world leader in the
 design, manufacture and service of aircraft engines, space propulsion
 systems and industrial gas turbines.
     Certain statements in this press release, are "forward-looking statements"
 as defined under securities law. UTC's operations, products, and markets
 are subject to a number of risk factors, which may cause actual results to
 vary materially from those anticipated in the forward-looking statements.
 UTC's SEC filings, as updated from time to time, contain important information
 identifying a number of these risk factors, including economical,
 political, climatic, currency, regulatory, technological, competitive and
 other important factors. This information can be found in the Business section
 of UTC's Annual Report on Form 10-K under the headings "Description of
 Business by Operating Segment" and "Other Matters Relating to the
 Corporation's Business as a Whole", as updated by UTC's other SEC filings from
 time to time. Any forward-looking statements should be evaluated in light of
 these important risk factors.
 
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SOURCE Pratt & Whitney
    EAST HARTFORD, Conn., April 30 /PRNewswire/ -- Pratt & Whitney and Air New
 Zealand Limited have signed a joint venture agreement to provide engine
 overhaul and repair services for Pratt & Whitney JT8D, International Aero
 Engines V2500, and Rolls-Royce Dart engines. The new joint venture will have
 predicted revenues of over US$170 million a year within the next five years.
     "This new partnership brings together two experienced and complementary
 businesses that will better serve customers," said Jim Robinson, president
 of commercial engines and aftermarket services for Pratt & Whitney. "We
 will continue to expand our service offerings. Together, we will provide
 maintenance solutions that offer lower costs, increased reliability, and
 exceptional customer support."
     The reputation of Ansett Australia and Air New Zealand Engineering
 Services (ANNZES) has significantly contributed to landing this joint venture
 with Pratt & Whitney, believes ANNZES Senior Vice President Bill Jacobson.
     "ANNZES has an international reputation as a successful maintenance,
 repair and overhaul business. This partnership will build upon the success of
 the airline's existing Christchurch engine facility, which has been attracting
 third party work from around the world over the past 10 years," said Mr.
 Jacobson.
     The engine center, located in Christchurch, New Zealand, currently
 overhauls JT8D and Dart engines and averages 180 engine overhauls a year.
 This number is expected to grow to over 300 engines per year with the addition
 of the V2500. The introduction of this new engine and the latest engine repair
 technologies will ensure that the demands of a growing customer base in the
 Asia Pacific region and North America are met.
     ANNZES was formed when the engineering business units of Ansett Australia
 and Air New Zealand combined in 1999 to provide a unique trans-Tasman MRO
 business, to generate greater growth and to meet the needs of an expanding
 global market.
     Pratt & Whitney Aftermarket Services offers complete engine overhauls at
 facilities in Connecticut, Georgia, Texas, Singapore, Norway, Saudi Arabia
 and now New Zealand. It also provides repair services in more than 20
 locations throughout the world. In addition, it offers fleet, material and
 inventory management programs to both commercial and military customers.
     Pratt & Whitney, a United Technologies Company, is a world leader in the
 design, manufacture and service of aircraft engines, space propulsion
 systems and industrial gas turbines.
     Certain statements in this press release, are "forward-looking statements"
 as defined under securities law. UTC's operations, products, and markets
 are subject to a number of risk factors, which may cause actual results to
 vary materially from those anticipated in the forward-looking statements.
 UTC's SEC filings, as updated from time to time, contain important information
 identifying a number of these risk factors, including economical,
 political, climatic, currency, regulatory, technological, competitive and
 other important factors. This information can be found in the Business section
 of UTC's Annual Report on Form 10-K under the headings "Description of
 Business by Operating Segment" and "Other Matters Relating to the
 Corporation's Business as a Whole", as updated by UTC's other SEC filings from
 time to time. Any forward-looking statements should be evaluated in light of
 these important risk factors.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X74878006
 
 SOURCE  Pratt & Whitney