Meggitt plc (LON:MGGT) said it has secured a long term supply agreement with Solar Turbines, a subsidiary of American machinery giant Caterpillar Inc. (NYSE:CAT).
The FTSE 250 aerospace components maker said the 5-year agreement would entail the supply of electric valves and actuators for multiple engine programmes at Solar Turbines.
READ: Meggitt secures multi-million dollar contract to supply components for the KF-X multirole fighter jet
Meggitt added that the agreement would extend a 20-year collaboration with Solar Turbines, in which it has supplied gas and liquid valves leading to the development of various actuator and High Force Gas Valve (HFG) designs.
The contract follows an award on April 18, when Meggitt secured a multi-million dollar contract with Korea Aerospace Industries to supply advanced nose/main wheels, high performance carbon brakes and a brake control system for the KF-X multirole fighter jet.
Meggitt shares were up 1.3% at 460.7p in mid-morning trading Friday.
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