United Technologies to Separate Into Three Independent Companies
November 26 2018 - 6:35PM
Dow Jones News
By Dana Mattioli and Thomas Gryta
United Technologies Corp. has decided to separate itself into
three independent companies, breaking apart one of America's last
industrial conglomerates, people familiar with the matter said.
The company, which makes everything from Otis elevators to Pratt
& Whitney jet engines, plans to brief investors on its breakup
plans as early as Tuesday, the people said.
The three pieces would be aerospace, the Otis division, and the
company's building systems division, which include its Carrier
brand of heating and cooling equipment.
The company was formed in 1934 and has a market value of $103
billion.
It has expanded by swallowing up other players, most recently a
$23 billion deal to buy aerospace rival Rockwell Collins Inc.,
which is expected to close this week after a long regulatory review
process.
Write to Dana Mattioli at dana.mattioli@wsj.com and Thomas Gryta
at thomas.gryta@wsj.com
(END) Dow Jones Newswires
November 26, 2018 18:20 ET (23:20 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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