Samsung Techwin Co. Ltd. and Pratt & Whitney have agreed on a risk and revenue sharing partnership (RRSP) supporting the PW1200G, PW1500G, PW1700G and PW1900G PurePower® engine programs. Samsung Techwin will have 1 percent share in each engine program. As a part of the partnership, it will be responsible for manufacturing the mid turbine frame for engines powering the MRJ70 and MRJ90, Bombardier's CSeries CS100 and CS300 medium range aircraft, and Embraer 175-E2, 190-E2 and the 195-E2 narrow body, medium range aircraft. The RRSP is expected to be worth more than $1.7 billion over the life of the programs.
This strategic partnership agreement stems from decades of collaboration between the two companies as Samsung Techwin has supported Pratt & Whitney's long standing PW4000 and F100 engine programs for the past 30 years. Bennett Croswell, president, Military Engines, Pratt & Whitney, Cheol Kyo Kim, president and CEO, Samsung Techwin, and James Maser, vice president, Strategy and Business Development, Pratt & Whitney, were all present at the signing of the agreement.
"Samsung is a long-term partner of Pratt & Whitney and we are excited that they have joined the Geared Turbofan engine as a partner to complement their existing PurePower engine supplier arrangements with us," said Maser.
Mr. Kim added, "Over the last 30 years, Pratt & Whitney and Samsung have built a strong business relationship. Both companies have shown enthusiasm and dedication to each other, and Samsung would like to further expand our business relationship with Pratt & Whitney by joining together as partners. As a result, I'm very happy to sign the Geared Turbofan engine RRSP today."
Source: Pratt & Whitney, A United Technologies Company (NYSE:UTX)
Date: Jun 16, 2015