Volvo Aero Norge and Pratt & Whitney signs mou

VOLVO AERO NORGE AND PRATT & WHITNEY SIGNS MOU Pratt & Whitney and Volvo Aero Norge jointly announced the signing of a Memorandum of Understanding today for the development of manufacturing capability of the JSF Low Pressure Turbine Shaft for the Joint Strike Fighter. Today's signing marks a significant milestone in the long continuing relationship between Pratt & Whitney and Volvo Aero Norge. The Joint Strike Fighter "family of aircraft" concept promotes affordability and allows a high level of commonality amongst the US Navy, Air Force, Marines and the United Kingdom. For the Air Force, the JSF will provide a multi-role - primarly air-to-ground-fighter to replace the F-16 and A-10 and to complement the F-22. Potential JSF costumers include current operators of F-16, F/A-18, Sea Harriers and AV-8B. Full market potential of the JSF engine is expected to exeed 5,000 engines, which could result in a production value of more than $150Million for the LPT Shaft. Volvo Aero Norge, located in Kongsberg, Norway, produces a wide range of jet engine hardware for Pratt & Whitney and is part of Volvo Aero Corporation, Sweden. Pratt & Whitney is a part of United Technologies Corporation of Hartford, CT, USA. June 15, 1999 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/06/15/19990615BIT00260/bit0001.doc http://www.bit.se/bitonline/1999/06/15/19990615BIT00260/bit0002.pdf