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Thursday, March 10, 2011

United Tech, Rolls to continue jet engine venture, (NYSE: UTX), (RR), (EAD)

United Technologies Corp's (UTX.N) Pratt & Whitney unit and Rolls-Royce Group Plc (RR.L) plan to extend their aircraft-engine joint venture, International Aero Engines, through 2045, the companies said in a statement on Thursday. The alliance, which also includes Japanese Aero Engines Corp and MTU Aero Engines, makes engines for the A320 class of aircraft made by EADS (EAD.PA) unit Airbus. Pratt and Rolls' management had diverged recently on engine technology, with Pratt pushing ahead with its next-generation geared turbofan aircraft engine, which uses less fuel and makes less noise than current engines.

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