United Technologies completes acquisition of Rockwell Collins, separates into three independent companies
FARMINGTON, Conn. United Technologies Corp. (UTC) has completed its previously announced acquisition of Rockwell Collins and announced its intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities.
The entire deal means that United Technologies -- comprised of Collins Aerospace Systems and Pratt & Whitney -- will supply systems to the defense and aerospace industry; Collins Aerospace was formed through the combination of UTC Aerospace Systems and Rockwell Collins. Otis will continue its manufacture of elevators, escalators and moving walkways; while Carrier will continue to provide HVAC, refrigeration, building automation, fire safety, and security products.
“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.”