January 31, 2013
Pratt & Whitney, a division of United Technologies (NYSE: UTX ) , announced Thursday that it has begun construction of a new manufacturing facility in Singapore. Once completed, the plant will construct fan blades and turbine disks for the PurePower line of geared turbofan engines.
The new plant will bolster Pratt & Whitney's capabilities in Singapore, where the company already has a component repair facility. Pratt & Whitney has invested nearly $110 million in the two facilities as it looks to build up its presence in the Asian nation. According to the release, the company expects its Singaporean work force to increase to nearly 2,500 over the next five years. The company expects the new facility to be completed by 2014 and to come online sometime in 2015.
Company President David Hess explained the benefit of Pratt & Whitney's Singapore investment, saying, "This expansion is a strategic investment for our company, and we are confident the Asia Pacific market is well-positioned for economic growth in 2013 and beyond."