P.M. BRIEFING : United Tech, Daimler Widen Ties
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HARTFORD, Conn. — United Technologies Corp. said today it has signed an agreement with West Germany’s Daimler-Benz AG to expand their ties in the aircraft engine industry.
The two companies’ aircraft engine units already belong to an international consortium, but the latest agreement appeared to be aimed at improving their positions prior to the 1992 unification of European markets.
Hartford-based United Technologies said it expects Daimler-Benz to invest in United Technologies’ Pratt & Whitney subsidiary and United Technologies to invest in Daimler’s Motoren-und Turbinen-Union unit.
It said MTU and Pratt & Whitney will work together in a business alliance, with Motoren becoming Pratt & Whitney’s “principal partner for Europe and the preferred partner worldwide.”
Pratt & Whitney and MTU are both members of International Aero Engines, a consortium that makes the V2500 commercial jet engine.
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