Pratt & Whitney and Turkish Airlines Technic Form MRO Joint Venture

Pratt & Whitney, a United Technologies Corp. company (NYSE: UTX), and Turkish Airlines Technic Inc. (Turkish Technic), a Turkish Airlines company (ISE:THYAO), today signed a joint venture agreement to build a major aircraft engine overhaul center in Istanbul. The new facility will be Pratt & Whitney’s eighth commercial engine overhaul center. Financial terms of the agreement were not disclosed.

The joint venture facility, named Pratt & Whitney Turkish Technic Aircraft Engine Maintenance Center [will overhaul V2500 and CFM56® engines. Construction will begin in early 2008 and the facility will induct its first engine in 2009. Once fully operational, the center is expected to overhaul up to 200 engines per year. Much of Turkish Technic’s experienced staff will be employed at this new facility.

After underlining the recent developments in Turkish aviation sector, Turkish Technic Chairman of the Board Metin Kilci said “We believe that the brand new and exciting partnership of Turkish Technic together with Pratt & Whitney as one of the leading engine and parts manufacturer will bring a fresh breath to Turkish aviation sector. Moreover, this giant step will be a good example for future foreign direct investments to our country especially those increasing the employment opportunities in such technological areas.”

“We consider this joint venture initiative to be a success story by joining the expertise of Turkish Technic, a new, independent Maintenance, Repair, Overhaul (MRO) company that has emerged from an experienced airline MRO center, and Pratt & Whitney, an engine Original Equipment Manufacturer (OEM) and an independent engine MRO,” said Dr. Ismail Demir, General Manager, Turkish Technic. “This initiative is in line with our strategy of becoming a preferred, well known, customer-focused maintenance organization with exceptional quality and service within its region. ”

"Pratt & Whitney Global Service Partners, together with Turkish Technic, will bring state-of-the-art engine service to the region and provide Turkish Airlines and other carriers in the region with an excellent alternative for their CFM56® and V2500 engine overhaul and repair needs, said Jim Keenan, senior vice president and general manager, Pratt & Whitney Global Service Partners. “This is a great opportunity for both of our companies.”

Turkish Technic Inc., a subsidiary of Turkish Airlines, is the leading maintenance center in its region, providing MRO services for Boeing and Airbus airframe, engine, auxiliary power units, landing gear and components. Turkish Technic. serves airlines in Europe, the Middle East, Northern Africa, Turkey and the Commonwealth of Independent States (CIS), with its maintenance base in Istanbul and highly qualified workforce of more than 3,000 personnel.

Pratt & Whitney Global Service Partners is a total service provider for engines made by Pratt & Whitney, International Aero Engines, General Electric, Rolls-Royce and CFMI. In addition to engine overhaul and repair services, GSP provides customers with improved engine performance and increased asset value through a portfolio of services including line maintenance, engine monitoring and diagnostics, environmentally friendly on-wing water washes, leased engines, custom engine service programs, and new and repaired parts.

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and commercial building industries.

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CFM and CFM56 are trademarks of CFM International

17.03.2013 Updated