United Technologies completes divestiture of P&W Power Systems unit to Mitsubishi Heavy Industries

United Technologies has completed the divestiture of its Pratt & Whitney Power Systems unit to Mitsubishi Heavy Industries. Terms of the agreement were not disclosed. Divesting Power Systems allows UTC to focus on its core aerospace and commercial businesses. Pratt & Whitney has entered into a long-term agreement with MHI under which Pratt & Whitney will provide certain engineering and manufacturing services to MHI in connection with the development of the FT4000, Power Systems’ next-generation industrial gas turbine. Under the long term agreement, P&W has also agreed to provide GG8 turbines to MHI.