Monday , March 1 2021

Depeche – United Technologies wants to break the end of another big American holding


United Technologies (UTX) plans to separate three independent entities, which are in the wake of groups such as General Electric or Honeywell, replacing one of the last large US industrial companies.

CEO Gregory Hayes has already discussed the idea of ​​a division of the company worth $ 103 billion.

And two activist investment companies, Daniel Loeb's Third Point and Bill Ackman's Pershing Square Capital, have campaigned publicly for this option in recent months.

The decision to break United Technologies has finally dropped on Monday.

One of the new companies will be allocated to the aviation sector.

UTX, headquartered in Farmington, Connecticut, has already added Pratt & Whitney reactors to its portfolio, including military aircraft such as the Lockheed Martin F-35 fighter and the Airbus A320.

To complete the aviation equipment and equipment business, the group announced the acquisition of $ 30 billion in aviation equipment manufacturer Rockwell Collins, including debt in 2017. UTX has made the purchase final.

The new company, which consists of these affiliates with $ 39 billion in sales in 2017, will retain the name of United Technologies, and Gregory Hayes will remain the boss.

Otis, another company, will be dedicated to elevators and escalators. Founded in 1854, it will regain its independence after its acquisition by United Technologies in 1976.

A third company Carrier should bring together under the name of air conditioning and safety equipment.

– The important moment –

. The decision we make to separate the United Technologies is an important moment in our history and positions each of these assets better to promote innovation in their industries and maximize value creation, imiz the company's CEO released, commented.

. Our products enable billions of people to access modern life. Için As independent organizations, United Technologies, Otis and Carrier will be ready to solve our customers' toughest challenges, making a positive contribution to career opportunities and communities around the world.

The company relies on the conclusion of the operation subject to the approval of the competent authorities by 2020.

The establishment of companies grouped under one roof has become fashionable in the United States in various industrial activities. However, this strategy does not seem to make more prescriptions.

Industrial giants divide various business divisions to focus on their core business or become more flexible.

As a flagship in the American industry, General Electric is a process in which many of its subsidiaries face the challenges of the energy division and try to halt the decline in the stock market.

Honeywell recently shared two activities.

And DowDuPont was born in 2017 and is set to split into three institutions, with a $ 130 billion marriage from two US agrochemical groups, Dow Chemical and DuPont.

In Wall Street, the announcement of the United Technologies was well received by investors: Monday's electronic transactions increased 1.63%.

© 2018 AFP

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