United Technologies Corp. has completed its acquisition of Rockwell Collins and the company’s intention is to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies.
Firstly, United Technologies, comprised of Collins Aerospace Systems and Pratt & Whitney, will be the preeminent systems supplier to the aerospace and defence industry; Collins Aerospace was formed through the combination of UTC Aerospace Systems and Rockwell Collins.
Secondly, Otis, the world’s leading manufacturer of elevators, escalators and moving walkways and thirdly, Carrier, a global provider of HVAC, refrigeration, building automation, fire safety and security products with leadership positions across its portfolio.
“Our decision to separate United Technologies is a pivotal moment in our history and will best position each independent company to drive sustained growth, lead its industry in innovation and customer focus, and maximise value creation,” said United Technologies Chairman and Chief Executive Officer Gregory Hayes.