United Technologies sells Goodrich pump business

Mar 18, 2013

(AP)—United Technologies Corp. says it has completed the sale of a pump and engine control systems business owned previously by airline parts maker Goodrich Corp.

The Hartford, Conn., aerospace said Monday it sold the business to Triumph Group Inc. of Berwyn, Pa., for an undisclosed sum.

Selling the pump and engine control systems unit was one of the divestitures required by regulators as a condition of United Technologies' $18.4 billion purchase of Goodrich.

also said it has an agreement to sell a Goodrich electric power systems business, which must be approved by regulators.

The Justice Department last year said the original deal would have combined the only two significant suppliers of large main engine generators for aircraft in the world and resulted in higher prices, less favorable contractual terms and less innovation for aircraft components.

Explore further: Google's corporate products division changes name

5 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

United Tech to sell units to BC, Carlyle for $3.5B

Jul 26, 2012

(AP) — United Technologies Corp. said Wednesday that is selling three industrial-products businesses for $3.46 billion as it seeks to fund its proposed acquisition of aerospace-parts maker Goodrich Corp.

UTC to sell Rocketdyne unit to GenCorp for $550M

Jul 23, 2012

(AP) — United Technologies is selling its engine division unit to aerospace manufacturer GenCorp Inc. for $550 million as the conglomerate raises money for its largest acquisition and solidifies its core aerospace business.

United Tech sees sales rising with Goodrich buy

Dec 13, 2012

United Technologies Corp. says its purchase of aircrafts parts maker Goodrich Corp. will drive revenue growth next year, helping overcome Europe's weak economy and less U.S. defense spending.

United Technologies 4Q profit down but sales grow

Jan 23, 2013

United Technologies Corp. posted a 26 percent drop in fourth-quarter net income from continuing operations on Wednesday due to one-time items including restructuring costs and completing its $18.4 billion Goodrich acquisition.

Recommended for you

Netflix unveils new way to share recommendations

15 hours ago

Netflix is giving its Internet video subscribers a more discreet way to recommend movies and TV shows to their Facebook friends after realizing most people don't want to share their viewing habits with large ...

Job listing service ZipRecruiter raises $63 million

Sep 01, 2014

ZipRecruiter, a California start-up that tries to simplify tasks for recruiters, has raised $63 million in initial venture capital funding as the 4-year-old service races to keep up with growing demand.

User comments : 0