Esterline Technologies Corporation and United Technologies Announce Long-Term Supply Agreement

BELLEVUE, WA--(Marketwired - Jun 16, 2015) - Esterline Corporation (NYSE: ESL)

• Long-term agreement supports UTC's forecasted aerospace production ramp-up
• Esterline's key new awards from UTC include the Embraer E-jet E2, Mitsubishi MRJ, Sikorsky S-92®, Airbus A350 and Boeing 787
• Commitment to UTC's Supplier Gold program, contractual governance and UTV² program were key to this long-term agreement

Esterline Corporation (NYSE: ESL) (www.esterline.com) and United Technologies Corp. (NYSE: UTX) today announced that they have finalized a long-term supply agreement to support production at UTC's aerospace businesses.

The UTV² long-term supply agreement secures contracts for critical engineered items required by UTC at its aerospace business units, Pratt & Whitney, Sikorsky and UTC Aerospace Systems, on key programs including E2, MRJ, S-92, A350 and B787. This agreement positions Esterline to become a preferred source to UTC and its aerospace business units for products from all three Esterline business segments: Advanced Materials; Sensors & Systems; and Avionics & Controls.

"This is an important step in further developing our long-standing relationship with UTC. We are very pleased to have been selected to design and manufacture critical components and systems on key programs like E2, MRJ, B787, S-92 and A350," said Curtis Reusser, Chairman, President and CEO of Esterline, adding, "We appreciate that UTC recognizes the value we bring to the partnership and these programs, and this agreement will allow us to continue growing our business with UTC in a mutually beneficial manner."

In addition to signing a long-term agreement, Esterline Technologies is actively engaged in the UTC Supplier Gold program and committed to the UTV² cost-savings initiative and UTC Contract Governance program, which sets high standards for quality and on time delivery.

Sam Abdelmalek, Vice President, Global Supply Management and Integration, United Technologies, said, "We are very pleased to announce this agreement with Esterline and commend them for their commitment to meeting UTC's high standards for quality and performance, as well as contractual governance and UTV² savings. UTC's aerospace businesses are well positioned for growth over the coming years. Suppliers like Esterline, who commit to our new contractual standards, meet our demanding performance requirements and satisfy our UTV² cost-savings initiatives, will have the opportunity to share in this growth for years to come."