United Technologies Corp.
) recently divested its UTC Power fuel cells business to
ClearEdge Power for an undisclosed amount. The strategic move is
consistent with its long-term strategy to reposition its
portfolio to focus on the core business of aerospace and building
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Headquartered in Hillsboro, Ore, ClearEdge Power offers
ultra-clean and efficient on-site energy generation systems for
homes and small businesses. The company has operations across the
West Coast of the U.S. Since its inception in 2003, ClearEdge
Power has evolved as a premier provider of fuel cell stacks, fuel
processing, and integrated balance of systems.
The acquisition of UTC Power fuel cells unit is likely to reap
synergistic benefits for ClearEdge Power as the former is widely
renowned to produce fuel cells that offer clean, reliable power
for buildings and vehicles. To add a feather to its cap, UTC
Power fuel cells were also used on all U.S. manned space flights
as an industry pioneer. Consequently, the transaction gives
unrivalled advantage to ClearEdge Power and brings it on the
forefront of green, secure, distributed generation.
Based in Hartford, Conn, 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 economic times.
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 faces intense competition from industry
bigwigs such as
Federal Signal Corp.
China Merchants Holdings (International) Company
Jardine Strategic Holdings Ltd.
), each carrying a Zacks Rank #1 (Strong Buy). United
Technologies presently has a Zacks Rank #3 (Hold).