UTC Says Work Outside Connecticut Has Kept Down Costs
By STEPHEN SINGER, AP Business Writer
HARTFORD, Conn. (AP) _ The chief financial officer of United Technologies Corp. says doing business outside Connecticut, where the industrial conglomerate is based, has helped keep down costs.
At a meeting with investor analysts Tuesday, Chief Financial Officer Greg Hayes cited subsidiary Sikorsky Aircraft, which he said has doubled sales over the past four years while its presence in the state has not grown. Hayes said
Sikorsky’s non-Connecticut operations are now equal in size to its in-state business.
Hayes said United Technologies also is moving work at its Fire and Security segment to Mexico.
Another United Technologies’ subsidiary, Pratt & Whitney, is shutting two jet engine repair plants in Connecticut and shifting work out of state. Pratt & Whitney’s president, David Hess, last month told a business group that Connecticut needs a more supportive business environment.
(Copyright 2011 by The Associated Press. All Rights Reserved.)