Israel’s Bet Shemesh Engines Ltd. announced an agreement with Pratt & Whitney, a division of United Technologies Corp., to buy all the shares of Pratt &Whitney’s Carmel Forge for $58.5 million. Carmel Forge manufactures parts for aviation jet engines. As part of the deal, Carmel Forge has signed a long-term agreement, valued at $360 million over 10 years, for the production of forged metal-alloy components to be used in Pratt &Whitney’s new engine manufacturing projects.
Bet Shemesh Engines to Acquire Pratt & Whitney’s Carmel Forge
November 6, 2018