United Technologies Corp (UTX.N) Key Developments | Reuters.com
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United Technologies Corp (UTX.N)

UTX.N on New York Stock Exchange

24 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Turkish Airlines selects United Technologies Corp's Pratt & Whitney PurePower Engines
Monday, 15 Jun 2015 05:04am EDT 

United Technologies Corp:Turkish Airlines has signed a Memorandum of Understanding for Pratt & Whitney's PurePower PW1100G-JM engines to power its order of 72 firm and 20 option A321neo aircraft.Deliveries are scheduled to begin in 2017.Pratt & Whitney is a United Technologies Corp company.  Full Article

United Technologies Corp's UTC Aerospace Systems to supply 12 systems for Boeing 777X
Sunday, 14 Jun 2015 12:05am EDT 

United Technologies Corp:Says Boeing has selected UTC Aerospace Systems for multiple systems for new Boeing 777X large, twin-engine jet.UTC Aerospace Systems is unit of United Technologies Corp.Says UTC Aerospace Systems' 777X electric power generating system is a completely new main electrical generation system, providing 25 percent more power than current 777 system, which is also supplied by UTC Aerospace Systems.Says 777X system comprises two 150 kVA integrated drive generators, an auxiliary generator, three generator control units and a bus power control unit.Says UTC Aerospace Systems will also supply the cabin air conditioning and temperature control system, airfoil and cowl ice protection system, and complete ventilation system suite of fans.  Full Article

United Technologies Corp announces quarterly dividend
Wednesday, 10 Jun 2015 02:00pm EDT 

United Technologies Corp:Declared, effective July 6, a dividend of 64 cents per common share.Payable on Sept. 10 to shareowners of record date as on Aug. 14.Ex-dividend date is Aug. 12.  Full Article

United Technologies Corp prices offering of senior notes due 2045
Wednesday, 29 Apr 2015 06:21pm EDT 

United Technologies Corp:Prices an offering of $850 million aggregate principal amount of senior notes maturing May 15, 2045, unless earlier redeemed.Notes have an interest rate of 4.150 percent.offering is expected to close on May 4.Net proceeds from the offering are expected be used to repay UTC's 4.875% notes due 2015 and for other general corporate purposes.  Full Article

United Technologies Corp announces quarterly dividend
Monday, 27 Apr 2015 12:08pm EDT 

United Technologies Corp:Declares dividend of 64 cents per common share.Payable on June 10 to shareowners of record date as May 15.Ex-dividend date is May 13.  Full Article

United Technologies Corp reaffirms FY 2015 outlook
Tuesday, 21 Apr 2015 07:00am EDT 

United Technologies Corp:Remains confident of 3 to 5 pct organic top line growth and sales of $65 to $66 billion for FY 2015.FY 2015 earnings per share guidance of $6.85 to $7.05.FY 2015 revenue of $65.38 bln, EPS of $6.98 - Thomson Reuters I/B/E/S.  Full Article

United Technologies Corp wins reversal of $657 million award over engine prices - Reuters
Monday, 6 Apr 2015 06:52pm EDT 

United Technologies Corp:Won the reversal of a $657 million judgment imposed over decades-old claims accusing its Pratt & Whitney unit of overcharging the federal government on jet engines for the military - Reuters.The 6th U.S. Circuit Court of Appeals in Cincinnati said the government did not prove damages from false statements allegedly made by Pratt when it competed in 1983 with GE Aircraft for a contract to supply engines for the F-15 and F-16 fighter jets.The decision returned the case to U.S. District Judge Thomas Rose in Dayton, Ohio, who in June 2013 awarded damages for what the government said was six years of overcharges.The government originally sued Pratt in 1999.Nine years later, Rose fined Pratt $7 million for violations of the federal False Claims Act, but found no actual damages because Pratt had given the government price concessions.The 6th Circuit upheld the fine but reversed the damages finding in 2010, leading to the subsequent award of damages and United Technologies' latest appeal.According to court papers, the government sued in Dayton because some of Pratt's alleged improper activity occurred at the nearby Wright-Patterson Air Force Base.  Full Article

United Technologies's UTC Aerospace Systems receives contract to provide submarine acoustic windows for naval undersea warfare center
Monday, 6 Apr 2015 08:00am EDT 

United Technologies Corp:Says UTC Aerospace Systems, has reached an agreement with the U.S. Naval Undersea Warfare Center to provide high frequency acoustic windows for submarines.Five-year indefinite delivery, indefinite quantity contract covers deliveries through 2020 to the U.S. Navy.Work will be performed by the Engineered Polymer Products (EPP) team in Jacksonville, Florida, which is part of UTC Aerospace Systems' Aerostructures business.  Full Article

United Technologies Corp's Pratt & Whitney continues to build production readiness with more than $18 bln in supplier long-term agreements
Thursday, 2 Apr 2015 01:00pm EDT 

Pratt & Whitney:Signs nearly 200 long-term agreements involving a projected spend of more than $18 bln with key product suppliers from around the world.Says these agreements will help the company support increased production levels as it prepares for an expected doubling inengine production by the end of the decade.Says these long-term agreements are with trusted suppliers committed to understanding and meeting Pratt & Whitney's rigorous quality, cost and delivery requirements, and ethical standards.Says the suppliers will provide key parts and components for Pratt & Whitney's large engine business.Including the PurePower PW1000G family of engines, the F135 military engine, and Pratt & Whitney Canada's engines, such as the PurePower PW800, to assure delivery to customers over the life of the engine programs.Pratt & Whitney is a division of United Technologies Corp.  Full Article

United Technologies Corp to explore strategic alternatives for Sikorsky Aircraft business
Wednesday, 11 Mar 2015 08:08pm EDT 

United Technologies Corp:Says that its board has authorized a review of strategic alternatives for the company's Sikorsky Aircraft business, including potential tax-free spinoff.Says that as part of portfolio review announced last Dec., the company is exploring strategic options for Sikorsky to determine best way to enhance its long-term success and create improved long-term value for UTC's customers and shareholders.Expects to conclude its strategic review before end of the year.However, no specific timetable has been set, and there can be no assurance that a spinoff or any other transaction will take place.Likewise, no decision has been made on timing or terms of any such transaction if one were to occur.  Full Article


Honeywell won't rule out aerospace M&A targets

MONTREAL Honeywell International Inc would not rule out bidding for another major aerospace supplier, among other possible acquisition targets, after merger talks collapsed in March with rival United Technologies Corp , the company's chief executive said on Monday.