Business World

United Tech to decide on breakup of businesses by end of 2018


LOS ANGELES — Aero parts maker United Technologi­es Corp. (UTC) is exploring a breakup of its business portfolio, including jet engines, elevators and air-conditione­rs, Chief Executive Greg Hayes said at the Barclays investor conference in Miami on Wednesday.

Hayes said a decision on whether UTC, which makes Otis Elevators, Pratt & Whitney aircraft engines and Carrier airconditi­oners, would be a more “valuable property together” or “better off in three separate businesses” by the end of 2018.

The CEO’s comment comes nearly a month after he indicated that a review was possible only after the closure of its acquisitio­n of avionics and interiors maker Rockwell Collins, Inc. by the third quarter of 2018.

Hayes said on Wednesday if the company were to split, its aerospace business would have about $ 45 billion to $ 50 billion in sales, Otis elevators unit about $ 12 billion to $ 13 billion, and the climate- control business about $ 17 billion to $ 18 billion. —

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