Wednesday, September 6, 2017

UTC buys Rockwell Collins

United Technologies Corp. has acquired Rockwell Collins for a total transaction value of $30 billion, including Rockwell Collins' net debt, Rockwell Collins said. A new business unit, Collins Aerospace Systems, will be created when the transaction is completed. Kelly Ortberg will remain as CEO, and UTC Aerospace Systems President Dave Gitlin will serve as president and COO. (Source: Aviation Today, 09/05/17) Gulf Coast note: UTC Aerospace Systems has an operation in Foley, Ala.