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The Wall Street Journal: United Tech expects Pratt & Whitney Canada to post $870 million charge

2016-01-06 21:50:55| Industrial Machines - Topix.net

United Technologies Corp. said it expects its Pratt & Whitney Canada business to post a pretax charge of roughly $870 million for the fourth quarter, tied to changes in royalty agreements with the Canadian government. The company will make four annual payments starting this month in an accord to end paying royalties based on future engine deliveries and sales to Canadian federal and provincial government agencies, according to a regulatory filing.

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