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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.