Samsung Techwin wins $1.7B parts contract at Paris Air ShowSamsung Techwin won a contract worth $1.7 billion at the Paris Air Show on Tuesday to provide airplane engine parts to P&W, an American aerospace manufacturer.
The Korean company also joined the Risk and Revenue Sharing Program hosted by P&W, in which several advanced businesses jointly produce a next-generation engine. Companies share both the risk and revenues according to each company’s stake in the program. Samsung Techwin took charge of producing the Middle Turbine Frame (MTF) which will be used between a high-pressure turbine and low-pressure turbine.
“The need for airplanes will increase as demand for air transport is constantly increasing,” Samsung Techwin said in a press release.
“We will expand the engine parts business through enhancing partnerships with other engine makers.”
More in Industry
Buffet restaurants adapt to pandemic by nixing the buffets
Sale of Doosan Infracore stake could be opportunity for Hyundai Heavy
Volvo XC60 ranks No. 1 for residual value in Encar study
Binggrae to scoop up ice cream competitor after FTC approves merger
LG accepting orders for rollable, $85K television