UTX subsidiary Pratt & Whitney reaches a $1B deal with the Pentagon for its F-35 engine

|By:, SA News Editor

United Technologies (UTX +0.1%) subsidiary Pratt & Whitney has reportedly reached a deal worth more than $1B with the Pentagon to build 39 engines for a sixth batch of F-35 Joint Strike Fighters.

The Pentagon agreed to buy the jets, excluding the engines, from Lockheed Martin (LMT -0.1%) in July. It buys the engines separately from Pratt & Whitney, which is the sole producer of engines for the radar-evading warplane.