United Technologies Closes on Rocketdyne Deal
United Technologies Corp. (NYSE: UTX) today announced it has closed on the sale of substantially all operations of its Pratt & Whitney Rocketdyne unit to GenCorp (NYSE: GY), except for its interest in the RD Amross joint venture. This interest is expected to transfer to GenCorp following regulatory clearances in Russia. The sale of Pratt & Whitney Rocketdyne concludes UTC's major portfolio transformation activities, enabling the company to focus on its core aerospace and commercial businesses.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries worldwide. For more information, visit our website at www.utc.com or follow us on Twitter: @UTC.
This release includes "forward looking statements" concerning a proposed transaction, its financial and business impact, management's beliefs and objectives with respect thereto, and management's current expectations for our future operating and financial performance, based on assumptions currently believed to be valid. 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 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 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 does not undertake any obligation to update the forward looking statements to reflect subsequent events or circumstances.