CEO Upbeat in Assessment of UTC's Businesses
HARTFORD, Conn. (AP) _ The chief executive of United Technologies Corp. has given an upbeat view of the conglomerate’s businesses and says there are possible acquisitions for its fire and security business and possibly its aerospace units.
CEO Louis Chenevert said at an investor analyst meeting Wednesday that a patent infringement lawsuit by Rolls Royce against subsidiary Pratt & Whitney is without merit.
Rolls Royce alleges that fan blades in a United Technologies geared turbofan engine infringes on a Rolls-Royce patent. The British Rolls-Royce also claims that other United Technologies engines violate its patent.
Chenevert reiterated the company’s estimate of earnings per share of between $4.60 and $4.70 for 2010, up by 12 to 14 percent from 2009, and revenue increasing by 2 percent, to $54 billion.
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