Esterline, United Technologies enter supply agreement

Esterline Technologies Corp. (ETC) and United Technologies Corp. (UTC) said Tuesday they have entered into a supply agreement that will support UTC's aerospace production operations.

The agreement, UTV2, will provide UTC with highly specialized items and parts and would make ETC the primary source for avionics, sensors and other advanced materials. ETC has also committed to taking a part in programs on governance and supply guarantees by UTC.
   
"We are very pleased to announce this agreement with Esterline and commend them for their commitment to meeting UTC's high standards for quality and performance, as well as contractual governance and UTV2 savings," UTC Vice President of Global Supply Management and Integration Sam Abdelmalek said. "UTC's aerospace businesses are well positioned for growth over the coming years. Suppliers like Esterline, who commit to our new contractual standards, meet our demanding performance requirements and satisfy our UTV2 cost-savings initiatives, will have the opportunity to share in this growth for years to come."
  
ETC specializes in the development and manufacture of specialty parts that are used in aerospace and defense, including extreme temperature-resistant metals and other material that serves both military and commercial aviation applications, alongside sensor and avionics technology.
   
"We appreciate that UTC recognizes the value we bring to the partnership and these programs, and this agreement will allow us to continue growing our business with UTC in a mutually beneficial manner," ETC Chairman, President and CEO Curtis Reusser said.