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Hanwha Techwin inks engine parts supply contract with Rolls Royce

Collected: 2016.12.15

Distributed: 2016.12.19

Source: Go Direct

Hanwha Techwin Co., a defense and aircraft engine parts making unit of South Korean conglomerate Hanwha Group, has signed a 355.9 billion won ($301.6 million) contract to supply aircraft engine parts to Rolls Royce plc., becoming a supplier of aircraft engine parts to all of the world`s three biggest aircraft engine makers.

The Korean engine parts supplier said in a regulatory filing on Wednesday that it will deliver 11 items of three types of engine parts to the British manufacture’s plants in the U.K. and Singapore from 2017 to 2031.

Hanwha Techwin that recently set up a new aircraft engine parts production facility in Changwon, Gyeongnam, Korea last month will roll out engine parts for GE, Rolls-Royce and P&W, the three global engine majors. Engine rotors and high-pressure compressor turbine blades earned previously are among the products to be produced at this plant.

Hanwha Group has been focusing to nurture aircraft engine business as its next growth engine. About 40 percent of Hanwha Techwin’s sales (2.61 trillion won) last year came from engine business. The company aims to increase its global footprint by acquiring overseas players in the mid and long term.

By Kim Jung-hwan

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