Diversified business conglomerate
United Technologies Corp.
) recently announced that it has sold the pump and engine control
systems business of the erstwhile Goodrich Corporation to
Triumph Group, Inc.
) for an undisclosed amount.
The asset sale is part of the mandatory requirements set by
the regulatory authorities relating to the acquisition of
Goodrich by United Technologies. Going forward, United
Technologies is also expected to dispense with the electric power
business of Goodrich subject to a clearance by the regulatory
authorities and adherence to the usual closing conditions.
Earlier, on Jul 26, 2012, United Technologies acquired Goodrich
for $16.5 billion and combined it with the legacy Hamilton
Sundstrand division to form a new operating segment named UTC
Hamilton Sundstrand is among the world's leading suppliers of
technologically advanced aerospace and industrial products and
aftermarket services for diversified industries worldwide. Its
product portfolio includes power generation, management and
distribution systems, flight systems, engine control systems,
environmental control systems, fire protection and detection
systems, auxiliary power units and propeller systems.
Aftermarket services include spare parts, overhaul and repair,
engineering and technical support and fleet maintenance programs.
The acquisition resulted in the merger of the two leading
aircraft manufacturers in the industry to create a behemoth that
produce aviation equipments for premier companies such as
The Boeing Company
Lockheed Martin Corporation
) and Airbus.
The merger also led to economies of scale, increased financial
flexibility, and complementary products at an opportune time when
the commercial aerospace industry is poised for growth.
Based in Hartford, CT, United Technologies provides high-end
technology products and services to the building systems and
aerospace industries worldwide. The company serves various end
markets such as aerospace, defense and commercial construction.
The business diversification allows the company to remain
profitable amid tough economic times.
The operations of United Technologies 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.
Concurrently, United Technologies presently has five principal
business segments: Otis; UTC Climate, Controls & Security;
Pratt & Whitney; UTC Aerospace Systems; and Sikorsky.
BOEING CO (BA): Free Stock Analysis Report
LOCKHEED MARTIN (LMT): Free Stock Analysis
TRIUMPH GRP INC (TGI): Free Stock Analysis
UTD TECHS CORP (UTX): Free Stock Analysis
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United Technologies currently has a Zacks Rank #3 (Hold).