Titeflex Aerospace and United Technologies Announce Long-Term Supply Agreement

PARIS AIR SHOW, Paris, June, 17, 2015 /PRNewswire/ -- Titeflex Aerospace and United Technologies Corp. (NYSE: UTX) today announced that they have finalized a 10-year supply agreement to support production at UTC's aerospace businesses.

Titeflex Aerospace provides customers like UTC with complete fluid transfer solutions and leads the world in steel-braided and para-aramid flexible hose, in addition to producing complex rigid assemblies in various metals. Titeflex has been a leading supplier of complex tubes on major UTC aerospace programs for more than 20 years.

"I am happy we have concluded this agreement with UTC, which allows us to build on our long-standing relationship," said Graham Thomson, President, Titeflex Aerospace.  "Our success in completing a new Master Terms Agreement aligns with UTC's One Company approach and will facilitate our ability to respond rapidly to UTC's business needs. Since signing the agreement, Titeflex Aerospace has seen an increase in activity with UTC business units, forming an excellent foundation for continued collaboration with UTC."

In addition to signing a long-term agreement, Titeflex Aerospace is actively engaged in the UTC Supplier Gold program and maintains a strong commitment to achieve gold status within 12 months.  Titeflex Aerospace has also committed to the UTV² cost-savings initiative and UTC contractual Governance, which sets high standards for quality and on time delivery.

"We are pleased to announce this long-term agreement with Titeflex Aerospace and applaud them for meeting UTC's high standards for quality, performance and cost-competitiveness," said Sam Abdelmalek, Vice President, Global Supply Management and Integration, United Technologies. "UTC's aerospace businesses are well-positioned for growth over the coming years. Suppliers like Titeflex Aerospace who commit to our new contractual governance standards, meet our demanding performance requirements through the UTC Supplier Gold program, and satisfy our UTV² cost-savings initiatives will have the opportunity to share in this growth for years to come."

Titeflex Aerospace is a subsidiary of Smiths Group plc operating under its Flex-Tek Division. Smiths Group is a global technology company listed on the London Stock Exchange. Smiths Group products and services make the world safer, healthier and more productive. For more information about Smiths Group, please visit www.smiths.com.

United Technologies Corp., based in Hartford, Connecticut, provides high-technology systems and services to the building and aerospace industries worldwide. To learn more about UTC, visit the website at www.utc.com or follow the company on Twitter: @UTC.

Statements contained in this press release regarding other than recitation of historical facts are forward-looking statements. These statements are identified by words such as "may," "will," " begin," " look forward," "expect," "believe," "intend," "anticipate," "should", "potential," "estimate," "continue," "momentum" and other words referring to events to occur in the future. These statements reflect the Company's current view of future events and are based on its assessment of, and are subject to, a variety of risks and uncertainties beyond its control, including, but not limited to, the state of the world financial, credit, commodities and stock markets, and uncertainties regarding the Company, its businesses and the industries in which it operates, which are described in the Company's filings with the Securities and Exchange Commission. United Technologies is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

CONTACTS:
Craig Barry Vice President, Marketing, Flex-Tek Group, 413-2718372
Danielle Canzanella, United Technologies, 860-728-6238

SOURCE United Technologies Corp.

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http://www.utc.com