United Tech considers splitting into 3 separate businesses
HARTFORD, Conn. (AP) — United Technologies Corp. is considering whether to break apart into three separate businesses.
The Hartford Courant reports that Chief Executive Officer Greg Hayes recently told investors he’s questioning whether United Tech is a more valuable property together or better off in three separate businesses, given its growing aerospace portfolio.
The Farmington, Connecticut-based company makes elevators, jet engines and air conditioners, employing more than 200,000 people.
United Tech announced plans in September to buy Rockwell Collins in Cedar Rapids, Iowa, for about $22.75 billion. The deal would create an aerospace giant that makes plane seats, landing systems and flight control decks for commercial and military planes.
Hayes says executives will provide more information about the company’s future by the end of the year, after the Rockwell Collins deal is complete.