Pratt & Whitney Purchases MRO Assets from Volvo Aero Engine Services

Released on Tuesday, February 20, 2007

EAST HARTFORD, Conn., Feb. 20, 2007 � Pratt & Whitney, a United Technologies Corp. (NYSE: UTX) company, will purchase the majority of Volvo Aero Engine Services' (VAES), assets. VAES is located in Bromma, Sweden. Financial terms of the agreement were not disclosed.

Assets to be purchased include the spare parts inventory and engine overhaul tooling and machinery for the JT8D, JT9D and PW4000 engines made by Pratt & Whitney.

The tooling and machinery will be moved to Pratt & Whitney Global Service Partners (GSP) locations worldwide to support maintenance, repair and overhaul (MRO) activities. The spare parts inventory will be distributed among the six GSP engine overhaul centers and the company's spare parts hub in Dallas, Texas.

The Volvo Aero Engine Services facility in Bromma currently overhauls PW4000 94-inch, JT8D-200 and JT9D engines. On Nov. 7, 2006, VAES announced a strategic decision to close the Bromma facility.

Pratt & Whitney Global Service Partners is a total service provider for CFM56®, V2500 and Pratt & Whitney engines. In addition to engine overhaul and repair services, GSP provides customers improved engine performance and increased asset value through a broad portfolio of services including line maintenance services, engine monitoring and diagnostics, environmentally friendly on-wing water washes, leased engines, custom engine service programs and new and repaired parts.

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries.