Honeywell has signed a contract to supply its F124-GA-200 turbofan engines for the Israeli Ministry of Defense's new 30-strong Alenia Aermacchi M-346 advanced jet trainer fleet.
Honeywell Inc. (NYSE: HON) has announced that it has been awarded a $735 million contract by Israel's Ministry of Defense for jet trainer engines, through its unit International Turbine Engine Company LLC, a joint venture with Aerospace Industrial Development Corp. Honeywell has signed a contract to supply its F124-GA-200 turbofan engines for the Israeli Ministry of Defense's new 30-strong Alenia Aermacchi M-346 advanced jet trainer fleet, which is being acquired from Italy. Honeywell said that the contract includes engine supply and aftermarket support.
As part of the contract, Honeywell will also provide spare parts and a comprehensive maintenance and support program to maximize asset availability for Israel's Ministry of Defense and reduce unplanned grounding time.
Honeywell said that it has signed the deal on behalf of the International Turbine Engine Company LLC, with TOR, an Israeli joint venture between Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) and Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1).
Published by Globes [online], Israel business news - www.globes-online.com - on September 6, 2012
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