Pratt & Whitney finalized an agreement to purchase Rolls-Royce's program share in International Aero Engines (IAE). IAE is a multinational aero engine consortium whose shareholders now consist of Pratt & Whitney, Pratt & Whitney Aero Engines International GmbH, Japanese Aero Engines Corp. (JAEC) and MTU Aero Engines GmbH. To date, more than 5000 V2500 engines have been delivered, and nearly 2000 more engines are on order with close to 200 customers around the world. As well as restructuring participation in IAE, on Oct. 12, 2011, Pratt & Whitney and Rolls-Royce also announced the formation of a new collaboration to power future midsize aircraft, which is subject to separate regulatory approvals. IAE partners JAEC and MTU have also agreed to join this new venture.
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Pratt & Whitney acquires Rolls-Royce’s share in IAE07-Jul-2012 20:36 GMT
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