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US jet engine maker Pratt & Whitney is getting ready to shut down its operations on the Blades Know-how Trade (BTI) plant in Nahariya. This morning the corporate’s CEO despatched a letter to staff explaining that, “for a very long time the manufacturing unit has been sustaining main losses which can be solely rising.” Sources acquainted with the state of affairs have instructed “Globes” that BTI plans shedding its 900 staff and shutting down its manufacturing operations throughout 2024 and 2025.
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The Histadrut Common Federation of Labor has declared a piece dispute on the manufacturing unit as a result of deliberate layoffs.
In 2014, Pratt & Whitney elevated its 49% stake in BTI to full possession by shopping for the remaining 51% of the shares from the Wertheimer household for an estimated a whole bunch of hundreds of thousands of shekels.
BTI is a producer of precision cast and machined blades for jet engines and holds a serious share of the worldwide market. Clients embody Rolls Royce, Samsung, and GE.
BTI was based in 1968 in Nahariya following the embargo imposed on the exports of components for the Mirage fighter jet by France to Israel, following the Six day struggle, which left Israel with out turbine blades for the Mirage.
Stef Wertheimer, who arrange the corporate, determined to proceed manufacturing the blades for export. The Wertheimer household additionally owns Techjet Aerofoils in partnership with Rolls Royce, which produces turbine blades at a plant within the Tefen Industrial Park within the Galilee, which additionally has crops within the US and China.
Printed by Globes, Israel enterprise information – en.globes.co.il – on December 4, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
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