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United Technologies Corp., one of the largest US industrial and financial companies. (UTC) has decided to split its business into three independent companies. The pace is largely dictated by the desire of its investors.
One of the separate companies will be the manufacturer of elevators, elevators and escalators Otis. The second is Carrier, which concerns the production of air conditioners, heating and ventilation systems, as shown by the UTC message.
UTC, the company that retains the name, remains a key aerospace business, whose badets are growing with the acquisition of Rockwell Collins' aviation electronics manufacturer for $ 23 billion.
The agreement, which began in September 2017, was finalized earlier this week after lengthy anti-monopoly inspections.
In addition to Rockwell Collins, production of Pratt & Whitney gas engines and gas turbines remains at UTC.
According to UTC estimates, the company's sales for 2018 will reach $ 65 billion. The Otis business figure for 2017 was $ 12.3 billion and Carrier's $ 17.8 million.
The process of splitting the UTC into three independent companies is scheduled to end in 2020. The current head of the company, Greg Hayes, remains managing director and chairman of UTC's board of directors. No new leaders of Otis and Carrier have been announced yet.
Shares of United Technologies rose 2.2% to $ 130.81 on Monday. Market capitalization reached $ 102.5 billion, making United Technologies one of the largest companies to divide into small businesses.
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