On Thursday, Greg Hayes, Chief Executive Officer, United Technologies announced the investors that the company is thinking of spin-off of Black Hawk helicopter unit. Company is consolidating offices in an effort to reduce overhead costs. The headquarters will be relocated from the Gold Building in downtown Hartford to the former headquarters of Otis elevator by the end of the year.
The headquarters of UTC subsidiaries Carrier Corp. and Otis Elevator are in Farmington already. Hartford, Connecticut-based United Technologies CEO Greg Hayes informed that their focus is on acquisitions in range of $ 5 billion of higher. The company acquired aerospace supplier Goodrich Corporation for $ 16 billion in 2012.
Sikorsky Aircraft is one of the lowest-margin units (worth $ 8 billion) of United Technologies. Mr. Hayes said "They didn't fit the growth profile that we're looking for to set us apart for the next decade." The company manufactures the helicopters that carry U.S. presidents. After the decision to spin-off Sikorsky Aircraft unit, the United Technologies stock closed $ 2.9 higher at $ 121.24.
Aerospace and building systems conglomerate, United Technologies is the parent company of Otis elevator, jet engine manufacturer Pratt & Whitney, Sikorsky helicopters and other aerospace and building systems companies.
No comments:
Post a Comment