Daily Management Review

Raytheon and United Technologies to create defense and aerospace giant


A new defense and aerospace giant will appear in the US: Raytheon and United Technologies have announced a merger. The list of products from both companies is simply immense: Raytheon manufactures Tomahawk cruise missiles, and UT makes Pratt & Whitney engines, which are equipped with the F 22 Raptor and F 35 Lightning fighter jets.

James from Cheltenham, Gloucestershire
James from Cheltenham, Gloucestershire
The total annual turnover of the combined business could reach $ 74 billion. It is assumed that the transaction will be finished in the first half of the next year, once United Technologies settle everything.

UTC is divided into three independent companies. The company announced a future change in its structure in connection with acquisition of one of the leading manufacturers of spare parts and electronic equipment for the aircraft industry Rockwell Collins in November last year.

According to the WSJ, the chairman of the board of directors and the general director of UTC Greg Hayes will be at the helm of the new giant. Bloomberg reports that the shareholders of United Technologies will get most of the conglomerate. 

As Greg Hayes has already stated, the merger "will determine the future of the aerospace and defense industries."

Hayes came to the management of United Technologies in 2014, promising to conduct large-scale transactions. If we count in last year’s acquisition of Rockwell Collins for a $ 23 billion deal, Raytheon turns United Technologies into an aerospace giant, producing not only jet engines and rockets, but also other elements, such as electronics and radar.

source: wsj.com, bloomberg.com

Science & Technology

China's first solar power molten salt plant sets record

WSJ announces imminent start of Boeing 737 MAX flight tests

Study: Machine learning is five times more harmful for the environment than a car

Would Singapore Be The First One To Bring Lab Grown Shrimps To The Global Market?

Apple Patents A ‘Foldable Screen’ For Creating Foldable iPhones

Research Shows Air Pollution Causing Birth Defects

Microsoft tells about operating system of the future

Study: Third of US kids wake up at night to check their smartphones

Deepfake AI Technology Used By Researchers To Bring Mona Lisa ‘To Life'

China is developing technology to capture greenhouse gases

World Politics

World & Politics

Former UEFA President detained to testify in a corruption case

Iranian Foreign Minister urges other countries to abandon the dollar

The EC recommends starting penalty procedure against Italy

European Breweries To Up Their Brewing Innovation Amid Green Legislations

‘Frequent’ Shootings Causes China To Issue Travel Advisory Against US To Its Citizens

Facebook’s appeal to stop ECJ data case rejected in Irish Supreme Court

Trump: Japan to buy 105 F-35 fighters from the USA

Theresa May to resign on June 7