United Technologies Corp. (UTX) said Friday that it has completed the divestiture of its Pratt & Whitney Power Systems unit to Mitsubishi Heavy Industries.
Terms of the deal were not disclosed.
Divesting Power Systems allows United Technologies to focus on its core aerospace and commercial businesses.
Pratt & Whitney has entered into a long-term agreement with Mitsubishi Heavy Industries under which Pratt & Whitney will provide certain engineering and manufacturing services to Mitsubishi Heavy Industries in connection with the development of the FT4000, Power Systems' next-generation industrial gas turbine. Under the long term agreement, Pratt & Whitney has also agreed to provide GG8 turbines to Mitsubishi Heavy Industries.
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