Alain M. Bellemare, President, Pratt & Whitney Canada, the Honourable Michael Fortier, Minister of Public Works and Government Services and Claude Lajeunesse, President, Concordia University. (CCNMatthews Photo/Pratt & Whitney Canada)
LONGUEUIL, QUEBEC--(CCNMatthews - Dec. 13, 2006) - Pratt & Whitney Canada Corp. (P&WC), a United Technologies Corp. (NYSE: UTX) company, will invest $1.5 billion in research and development (R&D) over the next five years to create the next generation of made-in-Canada engine technologies.
"This strategic investment is the most important commitment made by P&WC in its history," said Alain M. Bellemare, President, P&WC. "Our R&D activities will allow us to develop new engine technologies for the next generation of aircraft, such as business jets and helicopters. They will also help us to maintain our leadership position in the highly competitive global aerospace market."
This significant R&D investment is expected to generate over 1,500 direct and indirect jobs at P&WC's facilities across Canada and among its network of suppliers from coast-to-coast. As part of P&WC's activities, the company will also invest $75 million in collaboration projects with some 20 Canadian universities.
"The Government of Canada's decision to provide a royalty-based $350 million reimbursable contribution in support of P&WC's overall $1.5 billion investment in R&D activities reinforces its firm commitment to support innovation, made-in-Canada R&D, and continued growth in the aerospace sector. I commend the Government of Canada for its continued commitment to the high-value Canadian aerospace industry," said Bellemare.
These R&D investments announced today will significantly contribute to the prosperity of the Canadian economy and of Canadians across the country.
P&WC is the No. 1 R&D investor in Canada's aerospace sector and has a long legacy of innovation, which has allowed it to achieve numerous technological breakthroughs. The company has developed more than 50 new engines for different aircraft and helicopters in the past decade, a benchmark in the aerospace industry. It also has more than 20 exciting new engines currently under development.
P&WC will focus its R&D efforts mainly on developing new engine technologies that will surpass International Civil Aviation Organization's (ICAO) most stringent standards for noise and emissions. "We have already achieved unmatched performance levels in these areas," Bellemare noted. "We will also focus on reducing fuel consumption, developing advanced manufacturing technologies and enhancing competitiveness. In other words, we will create the new generation of high performance and greener engines."
With manufacturing and engineering facilities across Canada, P&WC has over 7,000 employees from coast-to-coast, including 1,500 engineers at its research centres in Quebec and Ontario. P&WC is currently working closely with 20 Canadian universities and the National Research Council Canada on over 600 projects, contributing to the development of the next generation of Canadian engineers and professionals. The company also works with an extensive network of over 1,500 suppliers across Canada to provide high-quality products and services to its 9,000 customers around the world.
Pratt & Whitney Canada, based in Longueuil, Quebec, is a world leader in the design, manufacture and service of aircraft engines powering business, general aviation and regional aircraft, and helicopters. The company also offers auxiliary power units 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.
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