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UTC's Pratt & Whitney Wins $300 Million South Korean Contract

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On Tuesday, United Technologies (NYSE: UTX  ) subsidiary Pratt & Whitney announced it has won a $300 million Performance Based Logistics contract from the Republic of Korea. Pratt will supply parts for, and perform maintenance on the F100 engines powering the South Korean Air Force's Lockheed Martin (NYSE: LMT  ) F-16 and Boeing (NYSE: BA  ) F-15K fighter jets over a five-year term.

Shares of United Technologies nonetheless declined Tuesday, falling 1.2% to $83.55. 

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Rich Smith

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

10/9/2015 4:03 PM
BA $139.70 Up +0.66 +0.47%
The Boeing Company CAPS Rating: ****
LMT $213.26 Down -1.11 -0.52%
Lockheed Martin Co… CAPS Rating: ****
UTX $95.37 Up +1.04 +1.10%
United Technologie… CAPS Rating: ****