20th Apr 2018 09:09
LONDON (Alliance News) - Aerospace and defense company Meggitt PLC said Friday that it will continue to supply electric valves and actuators for multiple engine programmes to Solar Turbines pursuant to a new five-year agreement.
The new agreement includes aftermarket support and was secured by the company's unit Meggitt Control Systems. No financial terms of the contract were disclosed.
Solar Turbines Inc, a unit of US machinery maker Caterpillar Inc, designs and manufactures industrial gas turbines for power generation, marine propulsion and for producing, processing and transporting natural gas and oil.
"Meggitt is delighted to be extending its partnership with Solar Turbines through this five-year agreement. This agreement underscores our ongoing commitment to developing world leading technologies to support our customers in the energy and oil and gas sector," said Dennis Hutton, president of Meggitt Control Systems.
Shares in Meggitt were trading 1.2% higher at 459.61 pence on Friday following the announcement.
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