P&WC Announces $1 Billion Research Program
Pratt & Whitney Canada says it will spend up to $1 billion to create a new generation of fuel-efficient and lighter-weight engines. It confirmed the program in a news conference Monday. Although no actual engine projects were announced, the research cuts a swath across P&WC's traditional market. "P&WC is developing the most advanced propulsion technologies for improved environmental performance, including reduced fuel consumption, lower emissions and less noise," the company said in a news release. "These technologies will be leveraged across P&WC's product lines for new turbofan, turboprop and turboshaft engines for business, regional and helicopter applications." The company is already engaged in some cutting-edge stuff at the higher end of its market, including the geared turbofan that will power the Bombardier Cseries and the PW800 that will go in big bizjets. P&WC got a big boost from the Canadian federal government in putting together the five-year research program.
The government provided a $300 million "repayable investment" and is crowing about the job creation that will result. The company is already looking for 200 engineers and more jobs are expected to follow in the company's Montreal and Toronto plants. "The project we are investing in today will create or maintain Canadian research jobs, encourage public and private partnerships, and keep Canada at the forefront of the international aerospace industry," said Industry Minister Tony Clement.