Mitsubishi Heavy Industries to acquire Pratt & Whitney Power Systems from United Technologies

EAST HARTFORD, Conn., 17 Dec. 2012. United Technologies Corp. (UTC; NYSE:UTX) plans to sell its Pratt & Whitney Power Systems unit, part of Pratt & Whitney, to Mitsubishi Heavy Industries (MHI).
Dec. 17, 2012

EAST HARTFORD, Conn., 17 Dec. 2012.United Technologies Corp. (UTC; NYSE:UTX) plans to sell its Pratt & Whitney Power Systems unit, part of Pratt & Whitney, to Mitsubishi Heavy Industries (MHI).

The sale will help enable UTC to focus on its core aerospace and commercial businesses. Pratt & Whitney President David Hess calls Mitsubishi Heavy Industries' agreement to purchase Pratt & Whitney Power Systems a “significant step in UTC's ongoing portfolio transformation.”

The transaction is expected to close in the second quarter of 2013.

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About the Author

Courtney Howard

Courtney Howard

Executive Editor

Courtney, as executive editor, enjoys writing about all things electronics and avionics in PennWell’s burgeoning Aerospace and Defense Group, which encompasses Military & Aerospace Electronics, Avionics Intelligence, the Avionics Europe conference, and much more. She’s also a self-proclaimed social-media maven, mil-aero nerd, and avid avionics geek. Connect with Courtney at [email protected], @coho on Twitter, and on LinkedIn.

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