Honeywell said Wednesday it had signed a contract with Airbus to provide mechanical and power systems for the new A350 XWB aircraft. The contract is valued at more than $16 billion over the next 20-25 years. The deal also is unique because it will have Honeywell take more of a responsibility for integrating major parts into the aircraft. "From an industry point of view, it's more of a partnership than a buyer-supplier relationship," said Robert Gillette, president and chief executive of Honeywell Aerospace. Honeywell is interested in building radar systems for the A350 as well, said Gillette, but details on that deal will be provided later. Honeywell shares were up 1.7% to $58.26 Wednesday. Over the last year, the stock is up about 45% on high demand for new aircrafts.
Sources: MarketWatch, Yahoo, Reuters
Commentary: Honeywell's Earnings Hit Their Mark, Revenue Tops Estimates • Boeing's 'iPlane': Two Suppliers That Stand To Benefit
Stocks/ETFs to watch: HON. Competitors: GR, JCI. ETFs: IYJ, PRFN
Seeking Alpha's news briefs are combined into a pre-market summary called Wall Street Breakfast. Get Wall Street Breakfast by email -- it's free and takes only seconds to sign up.