One of America's last industrial conglomerates is breaking up - Lebanon news - أخبار لبنان

One of America’s last industrial conglomerates is breaking up

One of America’s last industrial conglomerates is breaking up

New York (CNN Business)United Technologies, the 84-year-old maker of elevators and jet engines, is breaking itself apart.

The company announced plans late Monday to spin off its Otis elevator division as well as its Carrier building systems business. The remaining company, squarely focused on aviation, will be led by jet engine maker Pratt & Whitney and newly acquired parts maker Rockwell Collins.
Splitting United Technologies (UTX) into three separate public companies marks the end of one of America’s last great industrial conglomerates. UTC, a member of the Dow Jones Industrial Average, was founded in July 1934 under the name United Aircraft Corporation.

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