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STOCKHOLM, Sweden - Sweden's Volvo AB said Monday its aircraft unit Volvo Aero has signed a contract to supply components to U.S. aircraft engine manufacturer Pratt & Whitney.
The truck and bus maker said the deal is expected to result in sales of 50 billion kronor ($8.4 billion) over 40 years.
The contract means Volvo Aero will contribute to Pratt & Whitney's Geared Turbofan engine program and be responsible for three major components for the Mitsubishi Regional Jet and the Bombardier CSeries aircraft engines.
Shares in Volvo rose 1.8 percent to 72 kronor ($12.10) in Stockholm.
Pratt & Whitney is a division of United Technologies Corp., based in Hartford, Conn., and has more than 16,000 engines installed in aircraft around the world.
Major U.S. stock indexes slumped further south midday Monday, further extending this morning's hefty losses which erased last week's f...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
African Eagle Resources has raised its stake in the Mokambo joint venture to 87% and says 2008 drill results were "promising".
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