IHI Corp, General Electric's jet engine partner in Japan, may tie up aircraft engine part production with Mitsubishi Heavy Industries Ltd which is more closely aligned with GE's competitors.IHI and Mitsubishi Heavy said there were discussing an alliance announcement after Japan's leading daily, the Yomiuri said the firms planned to establish a new company in which the Japanese government may also invest.Mitsubishi Heavy makes parts for Rolls-Royce Holdings and Pratt & Whitney, a unit of United Technologies Corp.IHI, which is the primary supplier of aircraft engines to Japan's military, and Mitsubishi Heavy said in a joint statement that no decision had been made regarding what form any joint venture might take.
United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries worldwide. Shares of UTX fell by 2.52% or $-2.92/share to $112.89. In the past year, the shares have traded as low as $90.30 and as high as $118.42. On average, 3379360 shares of UTX exchange hands on a given day and today's volume is recorded at 5926397.
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