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News Breaks
November 15, 2012
17:00 EDTUTXUnited Technologies announces Pratt & Whitney expansion at West Palm Beach
United Technologies announced that its Pratt & Whitney unit will expand manufacturing capabilities at the company's West Palm Beach facility. The formal announcement was made by UTC Chairman & Chief Executive Officer Louis Chenevert and Florida Governor Rick Scott during a press conference at the West Palm Beach facility, which is shared by both Pratt & Whitney and Sikorsky Aircraft, another United Technologies company. Pratt & Whitney plans to invest more than $63M to construct and equip a new building and make improvements to existing space at the facility. Construction is expected to begin in the first half of 2013. Overall, the expansion is expected to result in creation of 230 new jobs. To support this expansion, Pratt & Whitney will receive incentives from both the State of Florida and Palm Beach County valued at approximately $4.4M.
News For UTX From The Last 14 Days
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October 2, 2015
12:23 EDTUTXSupply chain issues impact Pratt & Whitney production this summer, WSJ says
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October 1, 2015
18:19 EDTUTXSikorsky Aircraft awarded $189.43M government contract
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September 30, 2015
19:57 EDTUTXDoD concerned about 'excessive consolidation' after Lockheed-Sikorsky deal
Frank Kendall, the Under Secretary of Defense for Acquisition, Technology and Logistics, said in a statement earlier Wednesday that alluded to Lockheed Martin's (LMT) acquisition of United Technology's (UTX) Sikorsky unit, "With size comes power, and the department's experience with large defense contractors is that they are not hesitant to use this power for corporate advantage." Kendall added that the DoD would work with Congress to "explore additional legal tools and policy to preserve the diversity and spirit of innovation that have been central to the health and strength of our unique, strategic defense industrial base, particularly at the prime contractor level." Reacting to Kendall's statement, Lockheed spokesman Dan Nelson said, "There is no evidence to support the view that larger defense companies reduce competition or inhibit innovation... We believe that defense contractors should continue to be assessed based on the performance and effectiveness of the products and solutions offered, not on the size of their company."
September 28, 2015
15:33 EDTUTXPratt & Whitney renews JV agreement for training center in Beijing
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September 24, 2015
08:04 EDTUTXLockheed Martin reports expiration of HSR waiting period for Sikorsky deal
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September 22, 2015
10:34 EDTUTXUnited Technologies drops, nears test of 52-week low
Price was last at $89.10, down over 2.6%. At that price next major support isn't until the 52-week low at $87.17. Resistance is at $89.72.

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