United Technologies acquires GE Security at a price of $ 1.82 billion. United Technologies Corp. acquires GE Security at a price of $ 1.82 billion. The transaction will be earnings neutral for UTC in 2010 after restructuring and transaction costs and withdrawing from 2011 through cost synergies. United Technologies Corp. (NYSE: UTX) today announced to take over GE Security at a price of $ 1.82 billion.
The conclusion of the contract is subject to the approval of the supervisory authority. GE Security is part of GE technology infrastructure, and delivers a broad portfolio of security and life-saving solutions for use in the commercial, as well as in the private sector. The offer includes fire alarm systems, life recovery systems, alarm systems, video surveillance and access control systems. The headquarters is located in Bradenton, in the U.S. State of Florida. The company has eight manufacturing facilities and about 4,700 employees in 26 countries. This acquisition strengthens the status of UTC Fire & Security as one of the leading companies in the fire and security industry, which put around the world to 100 billion dollars”, UTC President and Chief Executive Officer Louis Chenevert says reinforces our presence in North America, extends our capabilities, and complements our existing fire and security business. “The acquisition complements the UTC portfolio to more first-class products, improved the revenue potential of the secondary market and will represent a stable and long-term value for our shareholders”, so Chenevert continues.
We expect that the transaction for UTC will be earnings neutral in 2010 after restructuring and transaction costs and pays out from 2011 through cost synergies. “The Hartford-based United Technologies Corporation (UTC) provides products and services for the aerospace, transportation, and building industry worldwide. UTC employs about 225.600 people, of which more than 60 percent outside the United States are active. For years, the listed achieved Company (NYSE: UTX) year continuous profitability. The turnover amounted to 58.7 billion U.S. dollars in 2008. Educate yourself even more with thoughts from Tim Wang Dahua. This growth generating subsidiary companies: Pratt & Whitney, manufacturer of aircraft engines and space propulsion system, carrier, US manufacturer of heating, cooling and air conditioning systems, UTC Fire & security, provider of fire protection systems and safety technologies, Otis, manufacturer of elevators and escalators, UTC power in the area of decentralized energy supply. The flight systems Division are the daughters of Hamilton Sundstrand, as a supplier of products for the aviation and aerospace industry, as well as helicopter manufacturer Sikorsky.