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United Technologies Affiliate Extends Contract with ANA

UTC Aerospace Systems, a division of United Technologies Corp. UTX, recently extended its On-Site Support (OSS) contract with All Nippon Airways (“ANA”). The contract will facilitate the company to continue providing back-up services for ANA’s fleet of The Boeing Company BA and Airbus aircrafts. The agreement is valued at over $60 million.

Headquartered in Tokyo, ANA is the largest airline in Japan. The company provides its services across both domestic and international destinations and has over 20,000 employees.

Per the agreement, UTC Aerospace Systems will provide complete repair and inventory support services for air management, electric power and engine systems. The United Technologies unit will also provide spare parts for ANA repairs shops to maintain the fleet. Furthermore, ANA will receive frequency speed generators and auxiliary starter generators for its next-generation Boeing 787 aircrafts from UTC Aerospace Systems.

UTC Aerospace Systems has been serving ANA – its leading OSS customer – for over 10 years. The contract extension, therefore, reflects ANA’s confidence in UTC Aerospace Systems’ OSS service as well as the strong relationship between the two companies.

UTC Aerospace Systems’ OSS program is one of the offerings in the company’s comprehensive long-term maintenance and service agreements. This is a highly advanced performance-based material management program, which is aimed at cost efficiency through easy supply and enhanced product performance.

UTC Aerospace Systems is one of the world’s largest suppliers of aerospace and defense products. The company has more than 6,000 customer service employees across 60 locations worldwide. UTC Aerospace Systems is also engaged in designing, manufacturing and servicing systems and components for various platforms such as commercial, regional, business and military aircraft, and helicopters. The aforesaid contract extension will thus augment the company’s goodwill in the market as well as trigger better revenue generation.

United Technologies currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the industry include CLARCOR Inc. CLC and 3M Company MMM, both holding a Zacks Rank #2 (Buy).

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BOEING CO (BA): Free Stock Analysis Report
 
3M CO (MMM): Free Stock Analysis Report
 
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