United Technologies has announced the completion of its acquisition of Rockwell Collins and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities.
The separation will result in three companies; United Technologies, elevator manufacturer Otis, and Carrier.
United Technologies is comprised of Collins Aerospace Systems and Pratt & Whitney. Collins Aerospace was formed through the combination of UTC Aerospace Systems and Rockwell Collins, one of the largest acquisitions in aerospace history, whilst Pratt & Whitney provides the F135 engine used in the F-35 Joint Strike Fighter.
“Collins Aerospace brings together two great companies with unmatched expertise in developing electrical, mechanical and software solutions,” United Technologies CEO Gregory Hayes said.
“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 maximize value creation,” Hayes said.
“Our products make modern life possible for billions of people. As standalone companies, United Technologies, Otis and Carrier will be ready to solve our customers’ biggest challenges, provide rewarding career opportunities, and contribute positively to communities around the world.”
The separation is expected to be completed in 2020, with separation activities occurring within the next 18-24 months.