“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,” said United Technologies Chairman and Chief Executive Officer Gregory Hayes.
“Our products make modern life possible for billions of people. I'm confident that each company will continue our proud history of performance, excellence and innovation while building an even brighter future. 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,” added Hayes.
United Technologies – as a dedicated aerospace and defense company – will retain its name and subsidiary, Pratt & Whitney. United Technologies will also contain Collins Aerospace, newly formed through the combination of UTC Aerospace Systems and Rockwell Collins.
UTC's acquisition of Rockwell Collins is one of the largest in aerospace history. It brings together Rockwell Collins and UTC Aerospace Systems to create Collins Aerospace Systems, an industry leader with a global presence of 70,000 employees in 300 sites and $23 billion in annual sales on a 2017 pro forma basis.
Pratt & Whitney, based in East Hartford, Connecticut, is a global leader in aircraft propulsion with a growing number of engine programs including the revolutionary geared turbofan (GTF) commercial engine and the F135 military turbofan engine for the Lockheed Martin F-35 Joint Strike Fighter (JSF) program.
Rockwell Collins, now Collins Aerospace, supplies electrical, mechanical, and software solutions across all major segments of the aerospace industry and serves commercial and military customers. The conclusion of a review by China's State Administration for Market Regulation on November 23 cleared the way for United Technologies’ acquisition of Rockwell Collins, which was first proposed on September 4, 2017.
Collins recently launched a next-generation military pilot training environment – a 360-degree visually simulated dome environment – called Griffin-2. Original Griffin systems are used in F-35 Lightning II, Lockheed Martin F-16 Fighting Falcon, Eurofighter Typhoon, and the Aermacchi M-346 training programs. Collins was also recently selected to provide updates to the Rockwell B-1 Lancer training system.
"Collins Aerospace brings together two great companies with unmatched expertise in developing electrical, mechanical and software solutions," said Hayes. "We will have a laser focus on developing innovative solutions for customers and generating strong returns for shareowners."
UTC’s updated 2018 outlook includes the acquisition of Rockwell Collins and an anticipated sales increase of $64.5 to $65.0 billion, up from $64.0 to $64.5 billion.
“We will have the preeminent aerospace supplier business in the entire industry. And that’s something that nobody else can say,” concluded Hayes.
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William Kucinski is content editor at SAE International, Aerospace Products Group in Warrendale, Pa. Previously, he worked as a writer at the NASA Safety Center in Cleveland, Ohio and was responsible for writing the agency’s System Failure Case Studies. His interests include literally anything that has to do with space, past and present military aircraft, and propulsion technology.
Contact him regarding any article or collaboration ideas by e-mail at firstname.lastname@example.org.