B/E Aerospace Expands Agreement With United Technologies - Quick Facts

(RTTNews) - BE Aerospace, Inc. (BEAV), a manufacturer of cabin interior products for commercial aircraft and business jets, reported extending and expanding an agreement with United Technologies Corp. or UTC (UTX), to provide aerospace fasteners, hardware, consumables, and logistical services to UTC's aerospace business units for their global operations. The deal with UTC is through December 31, 2022 and is initially valued at around $950 million.

B/E Aerospace said it would supply UTC's aerospace business units (Goodrich, Hamilton Sundstrand, Pratt & Whitney and Sikorsky Aircraft), with aerospace fasteners and hardware as well as a broad range of consumables. Further, the firm would provide logistical services such as just-in-time delivery, bin management services, integrated supply chain logistics, and airplane-on-the-ground (AOG) support round the clock, 365 days a year.

According to B/E, it's value-added services enhance customer productivity, lower total cost of ownership and inventory investment, and reduce risk with parts delivered directly to the point of use.