Tuesday, November 27, 2018

UTC splits in three

United Technologies is breaking itself into three independent companies after sealing its $23 billion acquisition of aviation electronics maker Rockwell Collins. The company's announcement Monday was the latest by a sprawling industrial conglomerate deciding it will be more efficient and focused as smaller, separate entities. The three companies will be United Technologies, which will house its aerospace and defense industry supplier businesses of Pratt and Whitney and Collins Aerospace Systems; Otis, the maker of elevators, escalators and moving walkways; and the Carrier air conditioning and building systems business. The separation is expected to be completed in 2020. (Source: AP via Yahoo, Bloomberg, 11/27/18) Gulf Coast note: UTC has an operation in Foley, Ala.