American engineering group United Technologies Corp. (UTC) for $23 billion buys manufacturer of avionics Rockwell Collins. The deal approved by the boards of Directors of both companies, Interfax reported.
Declared the transaction largest in the history in the aerospace industry.
Absorption Rockwell would increase the visibility of UTC as a supplier of components for leading aerospace companies in the world – Boeing and Airbus. In addition, after this transaction, the group can allocate the production of aviation equipment to an independent company.
Among the manufacturers of aircraft components continues active consolidation transaction UTC and Rockwell Collins will be the third in less than a year. A few months ago, Rockwell completed the takeover of B/E Aerospace, which produces furnishings for salons and toilets of aircraft, $8.6 billion Earlier this year, the French supplier of aircraft engines Safran has agreed to buy French manufacturer of components for Zodiac 8.7 billion Euro (including debt).
UTC brings together a number of companies that supply products and services for the aerospace and construction industries: manufacturer of elevators and escalators Otis, of aircraft engines Pratt & Whitney, life support systems, Hamilton Sundstrand, air conditioning and heating systems Carrier, a division of design tools fire and security UTC Fire & Security power engineering division of UTC Power. Enterprises of the company operate in approximately 70 countries.
United Technologies Aerospace Systems is among top 20 suppliers of components for all major Boeing and Airbus. The UTC staff of worldwide totals more than 200 thousand people, annual revenue of more than $57 billion.
Earlier it was reported about the completion of one of the largest deals in the agrochemical sector – the merger of Dow and DuPont.