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United Technologies: Difference between revisions
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In October 2014, [[Toshiba]] and United Technologies made a deal to expand their joint venture outside [[Japan]].<ref>{{cite press release | publisher=[[Reuters]]| date=16 October 2014| title=Toshiba and United Technologies ink deal to expand outside Japan | url=https://www.reuters.com/article/us-toshiba-deal-idUSKCN0I52VH20141016}}</ref> | In October 2014, [[Toshiba]] and United Technologies made a deal to expand their joint venture outside [[Japan]].<ref>{{cite press release | publisher=[[Reuters]]| date=16 October 2014| title=Toshiba and United Technologies ink deal to expand outside Japan | url=https://www.reuters.com/article/us-toshiba-deal-idUSKCN0I52VH20141016}}</ref> | ||
In February 2016, UTC subsidiary [[Carrier Corporation|Carrier Air Conditioner]] announced to employees at its Indianapolis and Huntington plants, that Carrier is moving manufacturing to Mexico: "The best way to stay competitive and protect the business for long-term is to move production from our facility in Indianapolis to Monterrey, Mexico. "<ref name="Wall Street Journal: Viral Video Over Plant Closure Gets Attention in GOP Debate">{{cite news|last1=Mann|first1=Ted|title=Viral Video Over Plant Closure Gets Attention in GOP Debate|url=https://blogs.wsj.com/washwire/2016/02/13/viral-video-over-plant-closure-gets-attention-in-gop-debate/|newspaper= | In February 2016, UTC subsidiary [[Carrier Corporation|Carrier Air Conditioner]] announced to employees at its Indianapolis and Huntington plants, that Carrier is moving manufacturing to Mexico: "The best way to stay competitive and protect the business for long-term is to move production from our facility in Indianapolis to Monterrey, Mexico. "<ref name="Wall Street Journal: Viral Video Over Plant Closure Gets Attention in GOP Debate">{{cite news|last1=Mann|first1=Ted|title=Viral Video Over Plant Closure Gets Attention in GOP Debate|url=https://blogs.wsj.com/washwire/2016/02/13/viral-video-over-plant-closure-gets-attention-in-gop-debate/|newspaper=The Wall Street Journal|access-date=3 March 2016|date=13 February 2016}}</ref> In December, Carrier agreed to keep the Indianapolis plant open, keeping 700 jobs in Indianapolis.<ref>{{Cite web|url=https://www.cnbc.com/2016/12/05/reuters-america-update-1-utc-ceo-says-no-quid-pro-quo-on-keeping-indiana-plant-open.html|title=UTC CEO says no 'quid pro quo' on keeping Indiana plant open|date=2016-12-05|website=CNBC|access-date=2016-12-15}}</ref> The plant in Huntington, Indiana would still close their doors, leaving 700 employees jobless.<ref>{{cite web|url=https://www.wane.com/news/utec-leaving-huntington-for-mexico-at-cost-of-700-jobs.html |title= UTEC Leaving Huntington for Mexico at Cost of 700 Jobs }}</ref> | ||
In June 2019, United Technologies announced the intention to merge with defense contractor [[Raytheon]] to form Raytheon Technologies Corporation. The combined company, valued at more than $100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing.<ref name="Raytheon merger">{{Cite news|url=https://www.wsj.com/articles/united-technologies-strikes-deal-to-acquire-raytheon-11560112912|title=United Technologies Strikes Deal to Merge With Raytheon|last1=Lombardo|first1=Cara|date=2019-06-10|work=Wall Street Journal|access-date=2019-06-10|last2=Cameron|first2=Doug|language=en-US|issn=0099-9660}}</ref> Although UTC was the nominal survivor, the merged company was headquartered at legacy Raytheon's former base in [[Waltham, Massachusetts]].<ref>{{Cite web|url=https://www.courant.com/business/hc-biz-utc-raytheon-announcement-20190609-l4zbj234y5aypcery2ghfhqebu-story.html|title=United Technologies says it's merging with defense contractor Raytheon and moving headquarters to Boston area from Connecticut|last=Singer|first=Stephen|date=2019-06-09|website=[[Hartford Courant]]|access-date=2019-06-10}}</ref> The merger was completed in April 2020.<ref name="mergercomplete"/> | In June 2019, United Technologies announced the intention to merge with defense contractor [[Raytheon]] to form Raytheon Technologies Corporation. The combined company, valued at more than $100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing.<ref name="Raytheon merger">{{Cite news|url=https://www.wsj.com/articles/united-technologies-strikes-deal-to-acquire-raytheon-11560112912|title=United Technologies Strikes Deal to Merge With Raytheon|last1=Lombardo|first1=Cara|date=2019-06-10|work=Wall Street Journal|access-date=2019-06-10|last2=Cameron|first2=Doug|language=en-US|issn=0099-9660}}</ref> Although UTC was the nominal survivor, the merged company was headquartered at legacy Raytheon's former base in [[Waltham, Massachusetts]].<ref>{{Cite web|url=https://www.courant.com/business/hc-biz-utc-raytheon-announcement-20190609-l4zbj234y5aypcery2ghfhqebu-story.html|title=United Technologies says it's merging with defense contractor Raytheon and moving headquarters to Boston area from Connecticut|last=Singer|first=Stephen|date=2019-06-09|website=[[Hartford Courant]]|access-date=2019-06-10}}</ref> The merger was completed in April 2020.<ref name="mergercomplete"/> | ||