facebook
twitter
search
search

Pratt & Whitney, Rolls-Royce cancel partnership plan

Sept. 19, 2013 at 3:22 PM

EAST HARTFORD, Conn., Sept. 19 (UPI) -- A proposed joint venture between engine-makers Rolls-Royce and Pratt & Whitney (a United Technologies Corp. company) has fallen by the wayside.

The companies last year announced plans to jointly develop an engine to power midsized commercial passenger aircraft but on Thursday issued separate statements saying the deal was off.

"In October 2011, Rolls-Royce and United Technologies Corp. (UTC) announced their intention to form a new joint venture to develop an engine to power future mid-size aircraft (120-230 passenger aircraft)," Pratt & Whitney said. "Following further discussion and because of the current regulatory environment, the parties have agreed not to proceed with the partnership.

"Pratt & Whitney remains fully committed to this important market segment and will continue independently to invest in, and develop, applications of its geared turbofan engine to power the next generation of mid-sized aircraft."

Rolls-Royce, which stated the same reason for ending the planned partnership, also reiterated its continued commitment to the market segment and its intention to invest in technologies for it.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Reddit CEO Ellen Pao apologizes for firing scandal
Report: Brazil's Petrobras wading dark waters
Oil markets hammered by Greece, Iran and China
Baker Hughes wins Johan Sverdrup contract
Iran envisions post-sanctions oil era