October 24, 2019, 2:17


Raytheon, United Technologies Announce Merger

Raytheon, United Technologies Announce Merger

The all-stock deal will merge Raytheon with United Technologies’ aerospace unit that would combine the aviation and defence sectors, bringing the two major US-based defence suppliers under one roof.

“The transaction will create a premier systems provider with advanced technologies to address rapidly growing segments within aerospace and defense”, the companies said in a joint statement, adding that the new enterprise is expected to have around $74 billion in sales this year.

For Raytheon, the agreement provides exposure to the commercial aerospace sector through the United Technologies’ unit, which produces everything from high-value jet engines competing with GE, to cockpit controls, airplane seats and cabin interiors.

United Technologies, in turn, would gain footing in the cyber-security and defence industries, according to an earlier CNBC report.

READ MORE: Raytheon, United Technologies in Talks to Merge in All-Stock Deal – Reports

The new company, which they are planning to call Raytheon Technologies, will have its headquarters in the Boston metropolitan area.

“Today is an exciting and transformational day for our companies and one that brings with it a tremendous opportunity for our future success. Raytheon Technologies will continue a legacy of innovation with an expanded aerospace and defence portfolio supported by the world’s most dedicated workforce”, Tom Kennedy, Raytheon Chairman and CEO said, adding that “with our enhanced capabilities, we will deliver value to our customers by anticipating and addressing their most complex challenges, while delivering significant value to shareowners”.

United Technologies Chairman and CEO Greg Hayes said “The combination of United Technologies and Raytheon will define the future of aerospace and defence […] Our two companies have iconic brands that share a long history of innovation, customer focus and proven execution. By joining forces, we will have unsurpassed technology and expanded R&D capabilities that will allow us to invest through business cycles and address our customers’ highest priorities. Merging our portfolios will also deliver cost and revenue synergies that will create long-term value for our customers and shareowners”.

 

READ MORE: Raytheon Successfully Tests New ‘Hot Fire Rocket Motor’ Designed for DARPA

The deal is expected to close in the first half of 2020, the companies said in a joint statement. The merger reportedly qualifies as a tax-free reorganization for US federal income tax purposes.

Raytheon is best known for its Patriot air defence systems and its Tomahawk cruise missiles. United Technologies is a major player in the aeronautics industry with its Pratt and Whitney engines, used in civil and military planes, including the F-35 multi-role stealth fighter jet.

 

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Weather

Moscow

Today10/23/2019
12℃

Thu
10/24/2019
overcast clouds

  • overcast clouds
  • HI/LO: 9/9
  • Clouds: 100%
  • Wind: 1.89 m/s
  • Wind Direction: W
  • Pressure: 1021hPa
  • Humidity: 84%

Fri
10/25/2019
sky is clear

  • sky is clear
  • HI/LO: 11/6
  • Clouds: 0%
  • Wind: 2.19 m/s
  • Wind Direction: SSW
  • Pressure: 1022hPa
  • Humidity: 70%

Sat
10/26/2019
overcast clouds

  • overcast clouds
  • HI/LO: 11/6
  • Clouds: 100%
  • Wind: 4.03 m/s
  • Wind Direction: WSW
  • Pressure: 1017hPa
  • Humidity: 78%

Sun
10/27/2019
light rain

  • light rain
  • HI/LO: 13/9
  • Clouds: 100%
  • Wind: 7.09 m/s
  • Wind Direction: SW
  • Pressure: 1006hPa
  • Humidity: 82%

Mon
10/28/2019
light rain

  • light rain
  • HI/LO: 8/4
  • Clouds: 0%
  • Wind: 5.27 m/s
  • Wind Direction: WSW
  • Pressure: 1009hPa
  • Humidity: 63%

Tue
10/29/2019
light snow

  • light snow
  • HI/LO: 4/0
  • Clouds: 100%
  • Wind: 4.48 m/s
  • Wind Direction: WSW
  • Pressure: 1006hPa
  • Humidity: 80%

NEWS

    Сторонняя реклама



    Статьи
    Статьи В
    Создание Сайта Кемерово, Создание Дизайна, продвижение Кемерово, Умный дом Кемерово, Спутниковые телефоны Кемерово - Партнёры
    Яндекс.Метрика