HARTFORD, Conn., July 26, 2012 /PRNewswire/ -- United
Technologies Corp. (NYSE: UTX) today announced that all remaining
regulatory approvals related to the proposed acquisition of
Goodrich Corporation (NYSE: GR) have been obtained.
Today's conclusion of the regulatory review by the U.S.
Department of Justice and the European Commission clears the way
for United Technologies to proceed with the proposed acquisition
announced on Sept. 21, 2011. The
acquisition is expected to close by the end of the week.
In line with previous expectations, the regulatory clearances
require that UTC sell Goodrich's Electric Power Systems business
and Goodrich's Connecticut-based
Pumps and Engine Controls business. Also as expected, UTC
will sell Goodrich's interest in Aero Engine Controls (AEC), a
joint venture with Rolls-Royce. The AEC aftermarket business
will remain with UTC, but Rolls-Royce will have ability to purchase
this aftermarket business in the future.
United Technologies Corp., based in Hartford, Connecticut, is a diversified
company providing high technology products and services to the
building and aerospace industries.
This release includes "forward looking statements" concerning
anticipated transactions, potential future transactions and
management's beliefs and objectives with respect thereto, based on
assumptions currently believed to be valid. Forward-looking
statements can be identified by the use of words such as "believe,"
"expect," "expectations," "plans," "strategy," "prospects,"
"estimate," "project," "target," "anticipate," "will," "should,"
"see," "guidance," "confident" and other words of similar meaning
in connection with a discussion of future operating or financial
performance. It is uncertain whether the events anticipated will
transpire, or if they do occur what impact they will have on the
results of operations and financial condition of UTC and of the
combined companies. These forward looking statements involve
significant risks and uncertainties that could cause actual results
to differ materially from those anticipated, including but not
limited to the ability of the parties to satisfy the remaining
conditions precedent and consummate the proposed acquisition, the
timing or consummation of the proposed acquisition, the ability of
the parties to complete the anticipated divestitures in a timely
manner or on the terms desired or anticipated, the ability of UTC
to integrate the acquired operations, the ability to implement the
anticipated business plans following closing and achieve
anticipated benefits and savings, and the ability to realize
opportunities for growth and innovation. Other important economic,
political, regulatory, legal, technological, competitive and other
uncertainties are identified in the SEC filings submitted by UTC
and Goodrich from time to time, including their respective
Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K, and
Current Reports on Form 8-K. The forward looking statements
included in this press release are made only as of the date hereof.
UTC undertakes no obligation to update the forward looking
statements to reflect subsequent events or circumstances.
UTC-IR
CONTACT:
John Moran, UTC
(860) 728-7062
www.utc.com
SOURCE United Technologies Corp.
