Industrial goods manufacturer
A. M. Castle & Co.
) recently inked a long-term agreement with diversified business
United Technologies Corp.
) to become its preferred supplier of raw materials and value added
services. The deal raised investor confidence as A. M. Castle share
prices were up 1.3% on Jun 13 to $11.69, following the
A. M. Castle will supply processed and machined parts and offer
value-added services and supply chain solutions for the Aerospace,
Oil & Gas and Industrial markets. Over the years, it has
developed a strong business relationship with United Technologies,
maintaining high standards for its services. Leveraging on this
excellence, A. M. Castle was able to secure the long-term agreement
for being the preferred supplier of United Technologies.
On the other hand, by strengthening its strategic ties, United
Technologies was able to ensure long-term commitments from global
suppliers of repute like A.M. Castle to fuel its growth momentum.
Based in Hartford, CT, United Technologies provides high-end
technology products and services to the building systems and
aerospace industries worldwide. The company is a diversified
business conglomerate serving various end markets such as
aerospace, defense and commercial construction. The business
diversification allows the company to remain profitable amid tough
The operations of the company are primarily classified into two
principal businesses: commercial and aerospace. Under its
commercial business, the company has Otis and the UTC Climate,
Controls & Security division, which combined the former Carrier
and UTC Fire & Security divisions. The aerospace business of
the company consists of Sikorsky aircraft and the UTC Propulsion
& Aerospace Systems, which includes UTC Aerospace Systems and
Pratt & Whitney divisions.
United Technologies presently has a Zacks Rank #3 (Hold). Other
notable companies in the industry include
Carlisle Companies Incorporated
), both carrying a Zacks Rank #2 (Buy).
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