UTC Fire & Security Announces Sale of Singapore Guarding Business

Sep 28, 2011, 07:00 ET from UTC Fire & Security

FARMINGTON, Conn., Sept. 28, 2011 /PRNewswire/ -- UTC Fire & Security has announced that it has closed on the sale of its Singapore manned guarding business, Chubb Guarding Services Singapore Pte Ltd., to an affiliate of Securitas AB, a Sweden-based security provider. UTC Fire & Security is a unit of United Technologies Corp. (NYSE: UTX).

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The Singapore business has sales of approximately S$17 million and employs over 600 guards, offering a variety of manned guarding services.

President of UTC Fire & Security Scott Buckhout said: "The sale fits with our strategic plan to further align the business around our technological expertise and R&D capabilities to develop the best product and service offerings for customers."

The sale is effective immediately.

About UTC Fire & Security

UTC Fire & Security provides fire safety and security solutions to more than 1 million customers worldwide on an annual basis. Headquartered in Connecticut, U.S., UTC Fire & Security is a business unit of United Technologies Corp. (NYSE: UTX), which provides high technology products and services to the building and aerospace industries worldwide. More information can be found on www.utcfireandsecurity.com.

SOURCE UTC Fire & Security