Daily Management Review

Raytheon and United Technologies to create defense and aerospace giant


06/10/2019


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






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