Exec Says UTC Will Sell More Businesses
HARTFORD, Conn. (AP) _ The chief financial officer of United Technologies Corp. says the industrial conglomerate will sell more businesses.
CFO Greg Hayes told an investor analysts conference in Chicago on Thursday that the Hartford, Conn., company is not done yet as it reshapes its business portfolio.
The parent company of jet engine manufacturer Pratt & Whitney, Otis elevator, Sikorsky Aircraft and other businesses has
previously said it is looking for buyers for its rocket fuel and wind power companies and three other businesses.
United Technologies is seeking to raise $3 billion from divestments to help finance its $16.5 billion purchase of airplane
parts maker Goodrich Corp.
Hayes echoed comments on May 22 by Chief Executive Louis Chenevert that United Technologies is looking for
alternatives to its fuel cell business.
Hayes says the company will decide by the end of the second quarter which businesses to sell.
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