UTC To Buy Dallas Aerospace
HARTFORD, Conn. (AP) _ United Technologies Corp. is buying Dallas Aerospace Inc. from the Fairfield Corp. for about $57 million cash.
Under the deal announced Monday, Dallas Aerospace will become part of Pratt & Whitney Engine Services, the engine service operations unit of UTC’s Pratt & Whitney unit.
Dallas Aerospace, which had revenues last year of $78 million, is a Texas-based supplier of engines, engine parts and engine management and leasing services with facilities in Dallas and Miami.
Last week, UTC announced it will buy Cade Industries, a Michigan-based company which manufactures and repairs composite component parts for propulsion systems and airframes.
``Adding Dallas and Cade will allow us to further build a global service and support network that meets out customers’ needs,″ said Pratt & Whitney President Louis Chenevert. ``We will continue to offer innovative ways for them to reduce the total cost of owning and operating Pratt & Whitney engines.″