Mitsubishi Heavy Industries to acquire Pratt & Whitney Power Systems from United Technologies
EAST HARTFORD, Conn., 17 Dec. 2012.United Technologies Corp. (UTC; NYSE:UTX) plans to sell its Pratt & Whitney Power Systems unit, part of Pratt & Whitney, to Mitsubishi Heavy Industries (MHI).
The sale will help enable UTC to focus on its core aerospace and commercial businesses. Pratt & Whitney President David Hess calls Mitsubishi Heavy Industries' agreement to purchase Pratt & Whitney Power Systems a “significant step in UTC's ongoing portfolio transformation.”
The transaction is expected to close in the second quarter of 2013.
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Courtney Howard | Executive Editor
Courtney, as executive editor, enjoys writing about all things electronics and avionics in PennWell’s burgeoning Aerospace and Defense Group, which encompasses Military & Aerospace Electronics, Avionics Intelligence, the Avionics Europe conference, and much more. She’s also a self-proclaimed social-media maven, mil-aero nerd, and avid avionics geek. Connect with Courtney at [email protected], @coho on Twitter, and on LinkedIn.
