United Technologies sells Goodrich pump business
(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 conglomerate 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.
United Technologies 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.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
