UNITED TECHNOLOGIES IS BREAKING ITSELF INTO THREE INDEPENDENT COMPANIES NOW THAT IT HAS SEALED ITS $23 BILLION ACQUISITION OF AVIATION ELECTRONICS MAKER ROCKWELL COLLINS.
THE THREE COMPANIES WILL BE UNITED TECHNOLOGIES, WHICH WILL HOUSE ITS AEROSPACE AND DEFENSE INDUSTRY SUPPLIER BUSINESSES; OTIS, THE MAKER OF ELEVATORS, ESCALATORS AND MOVING WALKWAYS; AND THE CARRIER AIR CONDITIONING AND BUILDING SYSTEMS BUSINESS.
IT DID NOT SAY IF ANY JOBS WOULD BE LOST IN THE BREAKUP.
THE SEPARATION IS EXPECTED TO BE COMPLETED IN 2020, UNITED TECHNOLOGIES SAID.