Proactive Investors - Run By Investors For Investors

Meggitt secures long term supply agreement with Caterpillar subsidiary

The FTSE 250 aerospace components maker said the 5-year agreement would entail the supply of electric valves and actuators for multiple engine programmes at Solar Turbines
Turbine engine
The agreement will extend a 20-year collaboration with Solar Turbines

Meggitt plc (LON:MGGT) said it has secured a long term supply agreement with Solar Turbines, a subsidiary of American machinery giant Caterpillar Inc. (NYSE:CAT).

The FTSE 250 aerospace components maker said the 5-year agreement would entail the supply of electric valves and actuators for multiple engine programmes at Solar Turbines.

READ: Meggitt secures multi-million dollar contract to supply components for the KF-X multirole fighter jet

Meggitt added that the agreement would extend a 20-year collaboration with Solar Turbines, in which it has supplied gas and liquid valves leading to the development of various actuator and High Force Gas Valve (HFG) designs.

The contract follows an award on April 18, when Meggitt secured a multi-million dollar contract with Korea Aerospace Industries to supply advanced nose/main wheels, high performance carbon brakes and a brake control system for the KF-X multirole fighter jet.

Meggitt shares were up 1.3% at 460.7p in mid-morning trading Friday.

--Adds share price--

View full MGGT profile View Profile

Meggitt PLC Timeline

Related Articles

1536105601_cobalt.jpg
September 05 2018
During the completion of its phase 1 exploration program at Bujagali and associated infill sampling, M2 Cobalt discovered six additional large-scale anomalies with highly anomalous rock and soil samples

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use