September 14, 2017 / 7:16 AM / a year ago

Bet Shemesh Engine seals big supply deal with Pratt & Whitney

JERUSALEM, Sept 14 (Reuters) -

* Israel’s Bet Shemesh Engine Holdings said on Thursday it has expanded an agreement to supply parts to aerospace manufacturer Pratt & Whitney by $530 million, bringing the total deal to $640 million.

* Under the expanded deal, originally signed in December, the company will develop and produce new items for Pratt & Whitney, a subsidiary of United Technologies Corp in the civilian sector through 2026.

* Chairman Gillon Beck said Bet Shemesh Engine is “among the few companies in the world able to produce rotating parts critical for jet engines,” which it will supply to Pratt & Whitney.

* Bet Shemesh Engine is controlled by Israel’s largest private equity firm, FIMI Opportunity Funds. (Reporting by Ari Rabinovitch)

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