Business Services Industry
Pratt Blames Cost for Losing Boeing Deal.
Knight Ridder/Tribune Business News, April, 2004
By Michael Remez, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Apr. 15--WEST PALM BEACH, Fla. -- Pratt & Whitney ended up out of the running in the contest to power the new Boeing 7E7 Dreamliner because of the financial terms of its offer, not its technical proposal, George David, chairman of United Technologies said Wednesday.
Last week, Boeing announced it had chosen rival jet-engine makers General Electric and Rolls-Royce to power its next generation aircraft. Before the selection, analysts said Pratt had the most to lose as it sought to boost its declining share of the new commercial engine market, Speaking at UTC's annual meeting, David said Pratt had made a strong bid with a new, state-of-the-art engine. The other...
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