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United Technologies announces intention to separate into three independent companies; completes acquisition of Rockwell Collins

United Technologies Corp. today announced the completion of its acquisition of Rockwell Collins and the company's intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies.

These are:

- United Technologies, comprised of Collins Aerospace Systems and Pratt & Whitney, will be the preeminent systems supplier to the aerospace and defense industry; Collins Aerospace was formed through the combination of UTC Aerospace Systems and Rockwell Collins;

- Otis, the world's leading manufacturer of elevators, escalators and moving walkways; and

- Carrier, a global provider of HVAC, refrigeration, building automation, fire safety and security products with leadership positions across its portfolio.

"Our decision to separate United Technologies is a pivotal moment in our history and will best position each independent company to drive sustained growth, lead its industry in innovation and customer focus, and maximize value creation," said United Technologies Chairman and Chief Executive Officer Gregory Hayes. "Our products make modern life possible for billions of people. I'm confident that each company will continue our proud history of performance, excellence and innovation while building an even brighter future. As standalone companies, United Technologies, Otis and Carrier will be ready to solve our customers' biggest challenges, provide rewarding career opportunities, and contribute positively to communities around the world."

Gregory Hayes will oversee the transition and will continue in his current role as UTC Chairman and CEO following the separation.

Overview of Three Leading Companies:

United Technologies (UTC)

United Technologies, comprising Collins Aerospace and Pratt & Whitney, will be the preeminent systems supplier to the high-growth commercial aerospace and defense industry, with a unique portfolio of technologies and scale to invest through economic cycles. Combined sales of the two businesses totaled $39.0 billion in 2017 on a pro forma basis. Collins Aerospace supplies electrical, mechanical and software solutions across all major segments of the aerospace industry and serves commercial and military customers. Pratt & Whitney is a global leader in aircraft propulsion with a growing number of engine programs including the revolutionary Geared TurbofanTM commercial engine and the F135 military engine for the F-35 Joint Strike Fighter program.

Otis Elevator Company (Otis)

Otis Elevator Company is the world's leading manufacturer of people-moving products, including elevators, escalators and moving walkways, with significant recurring revenue from long-term maintenance contracts and $12.3 billion in 2017 sales. Founded 165 years ago, Otis has a history of global leadership with products and services offered in nearly every country in the world. Otis, with more than two million elevators under maintenance, has the largest aftermarket service portfolio of any elevator manufacturer. Recent investments include digitally-enabled field service capabilities, positioning Otis for continued growth.

Carrier

Carrier is a leading global provider of innovative HVAC, refrigeration, fire, security and building automation technologies with 2017 sales of $17.8 billion. Supported by the iconic Carrier name, the company's portfolio includes industry-leading brands such as Carrier, Kidde, Edwards, LenelS2 and Automated Logic. Carrier's businesses enable modern life, delivering efficiency, safety, security, comfort, productivity and sustainability across a wide range of residential, commercial and industrial applications. Through accelerated innovation, the company has released more than 200 new products over the last two years.

Press release issued by Collins Aerospace (UTC) on November 26, 2018

 

 Contact details from our directory:
Collins Aerospace (UTC)
Collins Aerospace, Avionics HQ (Rockwell Collins) Head-Up Displays, Radio Communications Equipment, Moving Maps, Enhanced Vision Systems (EVS), LCD Displays, Engine Indicator Instruments, Cabin Management Systems, Automatic Flight Control Systems, Inflight Entertainment, Automatic Direction Finders, Cabin Address Systems, Autopilots, Radar/Radio Altimeters, Distance Measuring Equipment, VOR (Omnirange) Receivers, Avionics Management Systems, Air-to-Ground Data Links, Multi-Mode Receivers (MMR), Engine Control Quadrants, Control Panels, Aircraft & Helicopter Controllers, Collision Avoidance Systems/TCAS, Helmet-Mounted Displays (HMD), Weather Mapping Radar, Inertial Components & Systems, Attitude and Heading Reference Systems, Navigation Antennas, Transceivers, Flight Recorders, Cockpit Printers, Flight Directors, Flight Management Systems, Electronic Flight Instrument Systems, Air Data Computers, Onboard Computers, UAV Control Software, GPS, Simulation Systems, Surveillance/Air Defense Radar, Engine Controls, Terrain Awareness and Warning Systems, Horizontal Situation Indicator, Instrument Landing Systems, Command, Control & Intelligence Systems, Airborne Communication Systems

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