United Technologies Completes Sale of Pump and Engine Control Systems Unit
HARTFORD, Conn., March 18, 2013 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today announced it has completed the sale of the former Goodrich Corporation pump and engine control systems business to Triumph Group, Inc. (NYSE: TGI). Sale of the pump and engine control systems unit was one of the divestitures required by regulatory authorities as a condition of UTC's acquisition of Goodrich Corporation. UTC has reached agreement to sell a second unit, the legacy Goodrich electric power systems business, which remains pending subject to regulatory approvals and customary closing conditions.
United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries.
This release includes "forward looking statements" concerning business transactions, their anticipated financial and business impact, and management's beliefs and objectives with respect thereto, based on assumptions currently believed to be valid. These statements involve risks and uncertainties that could cause actual results to differ from those anticipated, including but not limited to the ability of the parties to satisfy conditions precedent, the timing of consummation of the second transaction, and the ability of the parties to secure regulatory approvals on the terms desired or anticipated. Other important economic, political, regulatory, legal, technological, competitive and other uncertainties are identified in the SEC filings submitted by UTC from time to time, including Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K, and Current Reports on Form 8-K. The forward looking statements included in this press release are made only as of the date hereof. UTC does not undertake any obligation to update the forward looking statements to reflect subsequent events or circumstances.
Ian Race, UTC
SOURCE United Technologies Corp.