Pratt and Whitney Announces Plans for at Least $650m Investment Through 2027 in Turbine Airfoil Production Facility in North Carolina
East Hartford, Conn., October 22, 2020 – Pratt & Whitney, a division of Raytheon Technologies Corp. (NYSE: RTX), announced today that it plans to invest at least $650 million through 2027 in a world-class turbine airfoil production facility in Asheville, North Carolina.
The new, 1,000,000-square-foot facility will house an advanced casting foundry for the production of turbine airfoils as well as conduct machining, coating and finishing of airfoils onsite.
“This investment will enable Pratt & Whitney to continue to modernize and transform its operations with cutting-edge technologies," said Chris Calio, president, Pratt & Whitney.
“Turbine airfoils are a critical component across our engine portfolio and demand will increase significantly as the market recovers over the next several years. We need to invest today to ensure that we have the infrastructure, production capabilities and workforce in place to meet future market demand and provide the best products to our customers worldwide. We are grateful for the support provided by the State of North Carolina and the local community.”
The investment is intended to create 800 new jobs through 2027 in Buncombe County. The new, state-of-the-art facility will implement best-in-class manufacturing technologies and processes exemplifying industry 4.0 manufacturing principles and will complement existing turbine airfoil work that is done across Pratt & Whitney’s facilities.
This investment directly supports Pratt & Whitney’s goal to transform its business and strengthen its position by implementing modern solutions to prepare for the future, while reducing structural costs to emerge from the pandemic stronger.
“We are positioning North Carolina to come out of this pandemic with these and other good paying jobs which signals a bright future in aviation even with the current challenges the industry faces. Manufacturers know they can count on our strong workforce, our innovation and our leadership in uncertain times,” said North Carolina Governor Roy Cooper.
“North Carolina’s leadership in aerospace may have started with the Wright Brothers, but make no mistake, this industry is a vibrant part of our state’s modern economy, as today’s announcement proves,” said North Carolina Commerce Secretary Anthony M. Copeland. “We welcome Pratt & Whitney’s new investment in North Carolina.”
About Pratt & Whitney
Pratt & Whitney, a unit of Raytheon Technologies (NYSE:RTX) is a world leader in the design, manufacture and service of aircraft and helicopter engines, and auxiliary power units. Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide.
To learn more about RTX, visit its website at www.rtx.com
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This press release contains forward-looking statements concerning future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in levels of demand in the aerospace industry, in levels of air travel, and in the number of aircraft to be built; challenges in the design, development, production support, performance and realization of the anticipated benefits of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Raytheon Technologies’ Securities and Exchange Commission filings.
