United Technologies has completed its acquisition of Rockwell Collins, highlighting its new goal to separate its commercial businesses, Otis and Carrier into independent entities.
UTC’s acquisition of Rockwell Collins is one of the largest in aerospace history. It brings together Rockwell Collins and UTC Aerospace Systems to create Collins Aerospace Systems, an industry leader with a global presence of 70,000 employees in 300 sites.
Gregory Hayes, chairman and CEO of United Technologies, said, “Collins Aerospace brings together two great companies with unmatched expertise in developing electrical, mechanical and software solutions. We will have a laser focus on developing innovative solutions for customers and generating strong returns for shareowners.”
The separation will result in three global, industry-leading companies: United Technologies, comprising 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 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.
Hayes commented, “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.
“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.”
