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Tuesday, May 17, 2011
Pratt & Whitney Awarded $1.13B Contract for F135 Engine Production
The U.S. Department of Defense has awarded Pratt & Whitney a $1.13 billion contract for F135 production engines to power the F-35 Lightning II. Pratt & Whitney and the DoD have reached an agreement on price and terms for the LRIP 4 contract, originally awarded in July 2010, which contains fixed-price and cost-plus incentive fee elements.
This low rate initial production (LRIP) contract includes production, spare parts, sustainment and delivery of the fourth lot of F135 engines. Pratt & Whitney is a United Technologies Corp. company.
“This contract provides our customer with a 15 percent savings on the conventional takeoff and landing/carrier variant (CTOL/CV), compared to LRIP 3, and demonstrates our commitment toward meeting aggressive cost reduction goals for the F135 engine,” said Bennett Croswell, president of Military Engines, Pratt & Whitney.
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