Pratt and Whitney Sells Israeli Manufacturing Facility

Israeli engine part manufacturer Bet Shemesh Motors has signed an agreement to acquire Israeli Carmel Forge from American aerospace manufacturer Pratt & Whitney Company Inc., the former announced in a Tel Aviv Stock Exchange filing Sunday. According to the terms of the transaction, Carmel Forge will sign a framework agreement for the supply of parts to the Pratt & Whitney Group over a period of ten years for an estimated total of $362 million.

Carmel Forge produces jet engine parts and its products are the main raw material for the operations of Beit Shemesh Engines. Originally founded in 1961, Carmel Forge was acquired in the 1990s by Pratt & Whitney, its largest customer. The Israeli manufacturer employs 225 employees and owns a 527,000 square feet plant northern Israel.