| Title | United Technologies to Buy Rockwell Collins for $23 Billion | |
| Date | Wednesday September 06 2017, @04:19PM | |
| Author | Fnord666 | |
| Topic | ||
| from the going-vertical dept. | ||
Two companies that supply parts to the likes of Boeing, Airbus, and Lockheed Martin will merge in one of the largest aerospace deals ever:
United Technologies Corp. agreed to buy Rockwell Collins Inc. for about $23 billion, creating an aerospace behemoth that can outfit jetliners and warplanes from tip to tail.
The transaction, one of the biggest in aviation history, creates an aircraft-parts giant better positioned to withstand the squeeze from planemakers Boeing Co. and Airbus SE for pricing discounts and higher output. The resulting company will boast a broad suite of products for commercial aircraft, from Rockwell Collins's touchscreen cockpit displays to jet engines made by the Pratt & Whitney division of United Technologies.
"This is a significant deal for UTC and the aviation industry in general," Hans Weber, president of San Diego-based consultancy Tecop International Inc., said in an email. By buying Rockwell Collins, which delivers avionics systems for the U.S. planemaker's 787, "UTC becomes a critically important supplier to Boeing and will have a strong negotiating position as Boeing is putting price pressure on suppliers."
The deal is $23 billion, or $30 billion including debt. The combined company is expected to have annual sales of $34 billion.
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printed from SoylentNews, United Technologies to Buy Rockwell Collins for $23 Billion on 2023-06-14 04:32:00