Bet Shemesh Enginesn Ltd. (TASE: BSEN) today announced that it has concluded two contracts with Pratt & Whitney worth $162 million over seven years.
One contract extends a contract that ran through the end of 2012 to produce components for auxiliary power units. This contract is worth $140 million over seven years ($20 million a year).
The second contract is to develop and produce parts for auxiliary power units for the new Airbus A320neo. This contract is worth $22 million over seven years (about $3 million a year).
Bet Shemesh Engines manufactures and upgrades jet engine components. The company said, "With the participation in the production of the new Airbus plane, the company completes its entry into projects related to planes of the future, including the new Boeing 787 Dreamliner and the Bombardier C-Series."
Bet Shemesh Engines is controlled by Clal Industries and Investments Ltd. (TASE: CII). Bet Shemesh Engines' share price rose 17.6% today to NIS 22.51, giving a market cap of NIS 151 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 28, 2013
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