United Technologies to Split in 3
Dow 30 component United Technologies Corporation (UTX) creates smart, sustainable solutions that are used to provide high-technology systems and services to both the building and aerospace industries.
By the year 2020, United Technologies will be split up its aerospace, elevator, and air-conditioning businesses into three separate companies. The company, which recently finished its acquisition of Rockwell Collins and has combined that business with the UTC Aerospace Systems and formed the Collins Aerospace Systems which will be a part of United Technologies after the split.
The other two companies are coming from the split of Otis and Carrier, an elevator manufacturer that also offers a variety of products related to HVAC and refrigeration.
“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, Chairman and CEO