The Connecticut House of Representatives has overwhelmingly approved a $400 million tax credit exchange deal, reached by Gov. Dannel P. Malloy’s administration with the state’s largest private employer, United Technologies Corp.
When Connecticut struck a deal for up to $400 million in tax credits for United Technologies Corp., the sides said the company’s helicopter and aerospace divisions would remain here “for years to come.”
United Technologies Corp. is reporting a steep drop in fourth-quarter profit, but its revenue edged up.
United Technologies Corp. says third-quarter profit edged up 1 percent on a slight increase in revenue, but warned that a weak military aerospace market will cut into 2013 revenue.
United Technologies Corp. is expected to post strong revenue growth for the third quarter, but analysts expect profit to be down slightly from the same three months of 2012 as federal spending cuts pinch the conglomerate’s military business.
United Technologies Corp. canceled a planned furlough of 2,000 workers after the Department of Defense recalled most of its civilian employees.
United Technologies Corp. says it may furlough more than 5,000 workers if the U.S. government shutdown continues into next month.
nited Technologies Corp. is combining its elevator and heating and climate controls businesses in a move aimed at making them more appealing to cities in emerging markets such as China.
The chief financial officer of United Technologies Corp. says the European economy is beginning to recover, but the U.S. military is sharply cutting spare parts orders for subsidiary helicopter maker Sikorsky Aircraft Corp.
United Technologies says its second-quarter revenue and profit spiked on strong elevator business in China and spare part sales for commercial airliners.