United Technologies logo

United Technologies Corporation (symbol: UTX) is a multi-national conglomerate in the technologies sector. Its main focus is technologies for the building and aerospace industries. Headquartered in Hartford, Connecticut, UTX employs over 200,000 people globally.

Several segments make up the company. UTX’s Carrier segment provides heating and refrigeration solutions. Otis provides passenger and freight elevators. Pratt & Whitney builds aircraft engines and aerospace propulsion systems. Sikorsky manufactures helicopters both for commercial and military uses. Hamilton Sundstrand provides pumps and pneumatic tools. Clipper Windpower manufactures wind turbines. UTC Fire & Security provides security and fire safety solutions. And UTC Power builds power generations systems. \r\n\r\nIn January 2011, UTX’s Pratt & Whitney unit announced its F135 propulsion system was now approved for the Lockheed Martin F35B stealth fighter.

Also in January 2011, UTX agreed to sell off Chubb Security Personnel Limited, part of its Fire & Security unit, to a Sweden-based security company. Chubb, operating in the United Kingdom, employs about 5000 people.

United Technologies Corporation was founded in 1934 as United Aircraft Corporation, when the manufacturing segments of several merged aircraft companies, including Sikorsky, were broken off due to the Air Mail Act of 1934. United Aircraft changed its name to United Technologies in 1975 and began to acquire companies such as Otis, Carrier and others. Its latest acquisition was Clipper in 2009.

In 2007, Forbes magazine called UTX “The Best Managed Company in America.” In 2009, UTX generated over $52 billion in revenue and $4.3 billion in net income, and was the 17th largest US manufacturer. UTX has many interests overseas, especially in emerging markets. With its stake in military aircraft, UTX has benefited from the war in Iraq and other military operations. In addition, UTC Power offers a green-energy portfolio. In 2010, UTX was awarded the Stanley C. Pace Leadership in Ethics Award by the Ethics Resource Center. UTX was one of only two Dow Industrial component companies whose stock price doubled from 2000 to 2010. \r\n\r\nUnited Technologies Corporation has been a member of the Dow Jones Industrials since 1939 and UTX stock price is today still listed there.

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