United Technologies Corporation
Encyclopedia
United Technologies Corporation (UTC) is an American
multinational
conglomerate headquartered in the United Technologies Building in Hartford
, Connecticut
. It researches, develops, and manufactures high-technology products in numerous areas, including aircraft engines, helicopter
s, HVAC
, fuel cells, elevator
s and escalators, fire and security
, building systems, and industrial products, among others. UTC is also a large military contractor, producing missile systems and military helicopters, most notably the UH-60 Black Hawk helicopter
. Louis R. Chênevert
is the current CEO.
left Litton Industries
to become the CEO of United Aircraft. He pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous high tech
fields beyond aerospace. (The change became official on 1 May 1975.) The diversification was partially to balance civilian business against any overreliance on military business. But it was also about growth for growth's sake. UTC became an M&A
-focused organization, with various forced takeovers of unwilling smaller corporations. The next year (1976), UTC forcibly acquired Otis Elevator. In 1979, Carrier Refrigeration
and Mostek
were acquired; the Carrier deal was forcible, while the Mostek deal was a white knight
move against hostile takeover designs by Gould
.
Being a defense contractor
always carries inherent difficulties for a for-profit organization. First, there is the concern that taxpayers' money must never be wasted by allowing the government's private sector
contractors to have "excess profits"—a reasonable abstract principle, but one quite hard to define operationally
from moment to moment and year to year. Second, there is the concern of warmonger
ing—that any person or corporation with a financial interest in encouraging warfare presents a perpetual risk of inciting violence. Third, being in the military materiel
business, warmongering or no, exposes a for-profit organization to a particularly punishing variant of the business cycle
: not only the normal bull and bear markets, but also the boom/bust peaks and valleys of wartime and peacetime.
These are the strategic
considerations that prompted UTC to diversify, led by a CEO that had been very successful in the conglomerate
-building craze of the 1960s and early 1970s.
At one point the military portion of UTC's business, whose aforementioned sensitivity to "excess profits" and boom/bust demand drove UTC to diversify away from it, actually carried the weight of losses incurred by the commercial M&A side of the business. Although M&A activity was not new to United Aircraft (UATC was somewhat of an octopus in its own right circa 1930), the M&A activity of the 1970s and 1980s was higher-stakes and arguably unfocused. Rather than aviation being the central theme of UTC businesses, high tech
(of any type) was the new theme. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake.
Mostek was sold in 1985 to the French electronics company Thomson
.
in 1999, and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand
.
.
In 2004, UTC acquired the Schweizer Aircraft Corporation which planned to operate as a wholly owned subsidiary under their Sikorsky Aircraft division.
In 2005, UTC further pursued its stake in the fire and security business by purchasing Kidde
. Also in 2005, UTC acquired Boeing's Rocketdyne
division, which was merged into the Pratt & Whitney
business unit.
In 2007, UTC opened the Hawk Works, a Rapid Prototyping and Military Derivatives Completion Center (RPMDCC) located west of the Elmira-Corning Regional Airport
in Big Flats
, NY.
In March 2008, UTC announced it had made a $2.63 billion bid to acquire Diebold
, a Canton, Ohio
based manufacturer of banking and voting machines. In September 2008 UTC's chairman commented that the acquisition was less than likely to happen.
Diebold has since rejected the $2.63 billion buyout bid. The ATM, ballot machine maker calls United Technologies bid inadequate.
On 9–10 December 2009, it was announced that UTC would acquire a 49.5% stake in Carpinteria, CA and London, UK based Clipper Windpower
by purchasing 84.3 million new shares and 21.8 million shares from current shareholders for £126.5 million or $206 Million US. Clipper has stated that this equity purchase "will significantly strengthen its balance sheet and enable it to enhance its operations and pursue its strategic initiatives", “This is a transformational transaction for Clipper, bringing substantial capital from a strategic investor who is one of the world’s leading industrial technology companies” said Doug Pertz, President and CEO of Clipper. “We welcome the investment from UTC and their confidence in Clipper’s technology and business opportunities.”.
On Monday, 18 October 2010, UTC agreed with Clipper to acquire the rest of the company.
In September 2011, UTC acquired a $18.4 billion, including $1.9 billion in net debt assumed deal for aircraft components maker Goodrich Corporation
.
United Technologies' headquarters operations are located in the United Technologies Building in Hartford, Connecticut
. The United Technologies Building is known locally as the "Gold Building" due to its gold-tinted glass-mirror exterior.
In 2005, United Technologies was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush
.
, the agency founded in 1947 by Robert Capa
, George Rodger
, Henri Cartier-Bresson
, William Vandivert, and David Seymour
. A volume of the same title, with text by Irwin Shaw
and an introduction by Inge Morath
, was also published in 1981.
UTC is the sponsor of "Aphrodite and the Gods of Love" at Boston's Museum of Fine Arts, opening fall 2011.
have identified UTC as the 38th-largest corporate producer of air pollution
in the United States as of 2008. UTC released roughly 110,000 pounds of toxic chemicals annually into the air
including manganese
, nickel
, chromium
and related compounds.
In 2006, they joined the Chicago Climate Exchange
as a Phase 1 and Phase 2 member.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
multinational
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
conglomerate headquartered in the United Technologies Building in Hartford
Hartford, Connecticut
Hartford is the capital of the U.S. state of Connecticut. The seat of Hartford County until Connecticut disbanded county government in 1960, it is the second most populous city on New England's largest river, the Connecticut River. As of the 2010 Census, Hartford's population was 124,775, making...
, Connecticut
Connecticut
Connecticut is a state in the New England region of the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and the state of New York to the west and the south .Connecticut is named for the Connecticut River, the major U.S. river that approximately...
. It researches, develops, and manufactures high-technology products in numerous areas, including aircraft engines, helicopter
Helicopter
A helicopter is a type of rotorcraft in which lift and thrust are supplied by one or more engine-driven rotors. This allows the helicopter to take off and land vertically, to hover, and to fly forwards, backwards, and laterally...
s, HVAC
HVAC
HVAC refers to technology of indoor or automotive environmental comfort. HVAC system design is a major subdiscipline of mechanical engineering, based on the principles of thermodynamics, fluid mechanics, and heat transfer...
, fuel cells, elevator
Elevator
An elevator is a type of vertical transport equipment that efficiently moves people or goods between floors of a building, vessel or other structures...
s and escalators, fire and security
Security
Security is the degree of protection against danger, damage, loss, and crime. Security as a form of protection are structures and processes that provide or improve security as a condition. The Institute for Security and Open Methodologies in the OSSTMM 3 defines security as "a form of protection...
, building systems, and industrial products, among others. UTC is also a large military contractor, producing missile systems and military helicopters, most notably the UH-60 Black Hawk helicopter
Helicopter
A helicopter is a type of rotorcraft in which lift and thrust are supplied by one or more engine-driven rotors. This allows the helicopter to take off and land vertically, to hover, and to fly forwards, backwards, and laterally...
. Louis R. Chênevert
Louis R. Chênevert
Louis R. Chênevert is the Chairman and Chief Executive Officer of United Technologies Corporation. He was elected to be UTC's CEO in succession of George David and has assumed that role effective April 9, 2008...
is the current CEO.
1970s and 1980s
In 1974, Harry GrayHarry Gray (business)
Harry Jack Gray was an American business manager and philanthropist, best known as CEO and chairman of United Technologies. He was born Harry Jack Grusin in Milledgeville Crossroads, Georgia. His mother, Bertha Grusin, died of cancer when he was six years old. He went to live with his older...
left Litton Industries
Litton Industries
Named after inventor Charles Litton, Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001.-History:...
to become the CEO of United Aircraft. He pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous high tech
High tech
High tech is technology that is at the cutting edge: the most advanced technology currently available. It is often used in reference to micro-electronics, rather than other technologies. The adjective form is hyphenated: high-tech or high-technology...
fields beyond aerospace. (The change became official on 1 May 1975.) The diversification was partially to balance civilian business against any overreliance on military business. But it was also about growth for growth's sake. UTC became an M&A
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
-focused organization, with various forced takeovers of unwilling smaller corporations. The next year (1976), UTC forcibly acquired Otis Elevator. In 1979, Carrier Refrigeration
Carrier Corporation
The Carrier Corporation is one of the world’s largest manufacturers and distributors of heating, ventilating and air conditioning systems, and a global leader in the commercial refrigeration and food service equipment industry...
and Mostek
Mostek
Mostek was an integrated circuit manufacturer, founded in 1969 by ex-employees of Texas Instruments. Initially their products were manufactured in Worcester, Massachusetts, however by 1974 most of its manufacturing was done in the Carrollton, Texas facility on Crosby Road...
were acquired; the Carrier deal was forcible, while the Mostek deal was a white knight
White knight (business)
In business, a white knight, or "friendly investor," may be a corporation or a person that intends to help another firm. There are many types of white knights...
move against hostile takeover designs by Gould
Gould Electronics
Gould Electronics Inc. -- founded in 1884 and based in Chandler, Arizona -- is a company involved in the electronics and semiconductor industries. They make printed circuit materials for use by electronics manufacturers. Having acquired Systems Engineering Laboratories Gould became involved in the...
.
Being a defense contractor
Defense contractor
A defense contractor is a business organization or individual that provides products or services to a military department of a government. Products typically include military aircraft, ships, vehicles, weaponry, and electronic systems...
always carries inherent difficulties for a for-profit organization. First, there is the concern that taxpayers' money must never be wasted by allowing the government's private sector
Private sector
In economics, the private sector is that part of the economy, sometimes referred to as the citizen sector, which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state...
contractors to have "excess profits"—a reasonable abstract principle, but one quite hard to define operationally
Operational definition
An operational definition defines something in terms of the specific process or set of validation tests used to determine its presence and quantity. That is, one defines something in terms of the operations that count as measuring it. The term was coined by Percy Williams Bridgman and is a part of...
from moment to moment and year to year. Second, there is the concern of warmonger
Warmonger
A warmonger is a pejorative term that is used to describe someone who is eager to encourage a people or nation to go to war.The term may also refer to:* Warmonger, a 2002 novel based on the Doctor Who television series...
ing—that any person or corporation with a financial interest in encouraging warfare presents a perpetual risk of inciting violence. Third, being in the military materiel
Materiel
Materiel is a term used in English to refer to the equipment and supplies in military and commercial supply chain management....
business, warmongering or no, exposes a for-profit organization to a particularly punishing variant of the business cycle
Business cycle
The term business cycle refers to economy-wide fluctuations in production or economic activity over several months or years...
: not only the normal bull and bear markets, but also the boom/bust peaks and valleys of wartime and peacetime.
These are the strategic
Strategic management
Strategic management is a field that deals with the major intended and emergent initiatives taken by general managers on behalf of owners, involving utilization of resources, to enhance the performance of firms in their external environments...
considerations that prompted UTC to diversify, led by a CEO that had been very successful in the conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
-building craze of the 1960s and early 1970s.
At one point the military portion of UTC's business, whose aforementioned sensitivity to "excess profits" and boom/bust demand drove UTC to diversify away from it, actually carried the weight of losses incurred by the commercial M&A side of the business. Although M&A activity was not new to United Aircraft (UATC was somewhat of an octopus in its own right circa 1930), the M&A activity of the 1970s and 1980s was higher-stakes and arguably unfocused. Rather than aviation being the central theme of UTC businesses, high tech
High tech
High tech is technology that is at the cutting edge: the most advanced technology currently available. It is often used in reference to micro-electronics, rather than other technologies. The adjective form is hyphenated: high-tech or high-technology...
(of any type) was the new theme. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake.
Mostek was sold in 1985 to the French electronics company Thomson
Thomson SA
Technicolor SA , formerly Thomson SA and Thomson Multimedia, is a French international provider of solutions for the creation, management, post-production, delivery and access of video, for the Communication, Media and Entertainment industries. Technicolor’s headquarters are located in Issy les...
.
1990s
UTC acquired Sundstrand CorporationSundstrand Corporation
Sundstrand Corporation was founded in 1926 as a merger of the Rockford Tool Company and Rockford Milling Machine Company in Rockford, Illinois. It was known as Sundstrand Machine Tool Company until 1959 when shareholders voted to change the name to Sundstrand Corporation.Sundstrand is known for...
in 1999, and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand
Hamilton Sundstrand
Hamilton Sundstrand, is a global corporation that manufactures and supports aerospace and industrial products for worldwide markets. It was formed from the merger of Hamilton Standard and Sundstrand Corporation in 1999. A subsidiary of United Technologies Corporation, HS is headquartered in Windsor...
.
2000s
In 2001, UTC entered the fire and security business by purchasing Chubb SecurityChubb Security
Chubb Security is an electronic security and fire safety business. It is owned by United Technologies Corporation.-History:The Company was founded by Charles and Jeremiah Chubb, who patented their Chubb detector lock in 1818. Apparently the Prince Regent accidentally sat on a Chubb lock complete...
.
In 2004, UTC acquired the Schweizer Aircraft Corporation which planned to operate as a wholly owned subsidiary under their Sikorsky Aircraft division.
In 2005, UTC further pursued its stake in the fire and security business by purchasing Kidde
Kidde
Kidde, a brand and division of United Technologies Corporation, is a business, or group of businesses, that manufactures and distributes fire detection and extinguishing equipment.-History:The company was founded by Walter Kidde in 1917 in the United States...
. Also in 2005, UTC acquired Boeing's Rocketdyne
Rocketdyne
Rocketdyne was a Rocket engine design and production company headquartered in Canoga Park, California, United States. The company was related to North American Aviation for most of its history. NAA merged with Rockwell International, which was then bought by Boeing in December, 1996...
division, which was merged into the Pratt & Whitney
Pratt & Whitney
Pratt & Whitney is a U.S.-based aerospace manufacturer with global service operations. It is a subsidiary of United Technologies Corporation . Pratt & Whitney's aircraft engines are widely used in both civil aviation and military aviation. Its headquarters are in East Hartford, Connecticut, USA...
business unit.
In 2007, UTC opened the Hawk Works, a Rapid Prototyping and Military Derivatives Completion Center (RPMDCC) located west of the Elmira-Corning Regional Airport
Elmira-Corning Regional Airport
-Top Destinations:-Incidents:On June 23, 1967, Mohawk Airlines Flight 40, operated on a BAC-111 regional jet, crashed in Blossburg, Pennsylvania, shortly after taking off from Elmira-Corning, killing all 34 persons on board....
in Big Flats
Big Flats (CDP), New York
Big Flats is a community in Chemung County, New York, United States. The population was 2,482 at the 2000 census.Big Flats is in the Town of Big Flats.-Geography:Big Flats is located at ....
, NY.
In March 2008, UTC announced it had made a $2.63 billion bid to acquire Diebold
Diebold
Diebold, Inc. is a United States-based security systems corporation that is engaged primarily in the sale, manufacture, installation and service of self-service transaction systems , electronic and physical security products , and software and integrated systems for global financial and...
, a Canton, Ohio
Canton, Ohio
Canton is the county seat of Stark County in northeastern Ohio, approximately south of Akron and south of Cleveland.The City of Caton is the largest incorporated area within the Canton-Massillon Metropolitan Statistical Area...
based manufacturer of banking and voting machines. In September 2008 UTC's chairman commented that the acquisition was less than likely to happen.
Diebold has since rejected the $2.63 billion buyout bid. The ATM, ballot machine maker calls United Technologies bid inadequate.
On 9–10 December 2009, it was announced that UTC would acquire a 49.5% stake in Carpinteria, CA and London, UK based Clipper Windpower
Clipper Windpower
Clipper Windpower is a wind turbine manufacturing company formed in 2001 by James G.P. Dehlsen, who also formed Zond in 1980. In December 2010 Clipper Windpower was acquired by United Technologies Corporation.-History:...
by purchasing 84.3 million new shares and 21.8 million shares from current shareholders for £126.5 million or $206 Million US. Clipper has stated that this equity purchase "will significantly strengthen its balance sheet and enable it to enhance its operations and pursue its strategic initiatives", “This is a transformational transaction for Clipper, bringing substantial capital from a strategic investor who is one of the world’s leading industrial technology companies” said Doug Pertz, President and CEO of Clipper. “We welcome the investment from UTC and their confidence in Clipper’s technology and business opportunities.”.
2010s
In April 2010, UTC announced that it was investing €15 million ($20 million) to set up the United Technologies Research Centre Ireland in University College Cork which will carry out research on energy and security systems.On Monday, 18 October 2010, UTC agreed with Clipper to acquire the rest of the company.
In September 2011, UTC acquired a $18.4 billion, including $1.9 billion in net debt assumed deal for aircraft components maker Goodrich Corporation
Goodrich Corporation
The Goodrich Corporation , formerly the B.F. Goodrich Company, is an American aerospace manufacturing company based in Charlotte, North Carolina. Founded in Akron, Ohio in 1870 as Goodrich, Tew & Co. by Dr. Benjamin Franklin Goodrich. The company name was changed to the "B.F...
.
Business units
- CarrierCarrier CorporationThe Carrier Corporation is one of the world’s largest manufacturers and distributors of heating, ventilating and air conditioning systems, and a global leader in the commercial refrigeration and food service equipment industry...
: A maker of heating, ventilation, air conditioningAir conditioningAn air conditioner is a home appliance, system, or mechanism designed to dehumidify and extract heat from an area. The cooling is done using a simple refrigeration cycle...
, and refrigerationRefrigerationRefrigeration is a process in which work is done to move heat from one location to another. This work is traditionally done by mechanical work, but can also be done by magnetism, laser or other means...
systems. - Clipper WindpowerClipper WindpowerClipper Windpower is a wind turbine manufacturing company formed in 2001 by James G.P. Dehlsen, who also formed Zond in 1980. In December 2010 Clipper Windpower was acquired by United Technologies Corporation.-History:...
: A maker of wind turbines - Hamilton SundstrandHamilton SundstrandHamilton Sundstrand, is a global corporation that manufactures and supports aerospace and industrial products for worldwide markets. It was formed from the merger of Hamilton Standard and Sundstrand Corporation in 1999. A subsidiary of United Technologies Corporation, HS is headquartered in Windsor...
: Designs and manufactures aerospace systems for commercial, regional, corporate and military aircraft; a major supplier for international space programs. Provides industrial products for the hydrocarbon, chemical, and food processing industries, construction and mining companies. - OtisOtis Elevator CompanyThe Otis Elevator Company is the world's largest manufacturer of vertical transportation systems today, principally focusing on elevators and escalators...
: Manufacturer, installer, and servicer of elevators, escalators, and moving walkways. - Pratt & WhitneyPratt & WhitneyPratt & Whitney is a U.S.-based aerospace manufacturer with global service operations. It is a subsidiary of United Technologies Corporation . Pratt & Whitney's aircraft engines are widely used in both civil aviation and military aviation. Its headquarters are in East Hartford, Connecticut, USA...
: Designs and builds aircraft engines, gas turbines, and rocket engines.- Pratt & Whitney CanadaPratt & Whitney CanadaPratt & Whitney Canada is a Canadian aircraft engine manufacturer. PWC's headquarters are in Longueuil, Quebec, just outside Montreal. It is a division of the larger US-based Pratt & Whitney , itself a business unit of United Technologies...
- RocketdyneRocketdyneRocketdyne was a Rocket engine design and production company headquartered in Canoga Park, California, United States. The company was related to North American Aviation for most of its history. NAA merged with Rockwell International, which was then bought by Boeing in December, 1996...
- Pratt & Whitney Canada
- Sikorsky AircraftSikorsky AircraftThe Sikorsky Aircraft Corporation is an American aircraft manufacturer based in Stratford, Connecticut. Its parent company is United Technologies Corporation.-History:...
: Maker of helicopters for commercial, industrial, and military uses.- PZL-MielecPZL-MielecPZL Mielec , formerly WSK-Mielec and WSK "PZL-Mielec" is the Polish aerospace manufacturer, based in Mielec...
- Schweizer AircraftSchweizer AircraftThe Schweizer Aircraft Corporation is a manufacturer of sailplanes, agricultural aircraft and helicopters located in Horseheads, New York. It was incorporated in 1939 by three Schweizer brothers , who built their first glider in 1930...
- PZL-Mielec
- UTC Fire & SecurityUTC Fire & SecurityUTC Climate, Controls and Security Systems is a climate, fire and security products and services provider and is a wholly owned subsidiary of United Technologies Corporation. UTC Fire & Security is a $5.5 billion company with 45,000 employees serving customers in 25 countries.- History :UTC entered...
: Makes fire detection and suppression systems, access control systems, and security alarm systems; provides security system integration and monitoring services. - UTC PowerUTC Power- About :UTC Power is a fuel cell company based in South Windsor, Connecticut. It is part of United Technologies Corporation and has been in business for over 50 years. The company has experience in all five major fuel cell technologies. The company specializes in fuel cells for buildings, buses ...
: Manufacturer of distributed power generation systems and fuel cells for commercial, transportation, and space and defense applications. - United Technologies Research Center (UTRC): A centralized research facility that supports all UTC business units in developing new technologies and processes.
United Technologies' headquarters operations are located in the United Technologies Building in Hartford, Connecticut
Hartford, Connecticut
Hartford is the capital of the U.S. state of Connecticut. The seat of Hartford County until Connecticut disbanded county government in 1960, it is the second most populous city on New England's largest river, the Connecticut River. As of the 2010 Census, Hartford's population was 124,775, making...
. The United Technologies Building is known locally as the "Gold Building" due to its gold-tinted glass-mirror exterior.
Before 1975 (UATC or UAC)
- BoeingBoeingThe Boeing Company is an American multinational aerospace and defense corporation, founded in 1916 by William E. Boeing in Seattle, Washington. Boeing has expanded over the years, merging with McDonnell Douglas in 1997. Boeing Corporate headquarters has been in Chicago, Illinois since 2001...
—from 1929 to 1934 - Chance VoughtVoughtVought is the name of several related aerospace firms. These have included, in the past, Lewis and Vought Corporation, Chance Vought, Vought Sikorsky, LTV Aerospace , Vought Aircraft Companies, and the current Vought Aircraft Industries. The first incarnation of Vought was established by Chance M...
—from 1928 to 1954 - A predecessor division that would become, as its own corporation, United AirlinesUnited AirlinesUnited Air Lines, Inc., is the world's largest airline with 86,852 employees United Air Lines, Inc., is the world's largest airline with 86,852 employees United Air Lines, Inc., is the world's largest airline with 86,852 employees (which includes the entire holding company United Continental...
- Hamilton StandardHamilton StandardHamilton Standard, an aircraft propeller parts supplier, was formed in 1929 when United Aircraft and Transport Corporation consolidated Hamilton Aero Manufacturing and Standard Steel Propeller into the Hamilton Standard Propeller Corporation. Other members of the corporation included Boeing,...
, which became part of Hamilton Sundstrand
Since 1975 (UTC)
- Hamilton Test Systems, an ArizonaArizonaArizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
-based developer of vehicle emission test equipment, which was sold to Georgetown Partners in December 1990, who renamed it Envirotest Systems Corp. It is now part of Environmental Systems Products Holdings (ESPH). - Inmont paint and resins, which was later sold to BASFBASFBASF SE is the largest chemical company in the world and is headquartered in Germany. BASF originally stood for Badische Anilin- und Soda-Fabrik . Today, the four letters are a registered trademark and the company is listed on the Frankfurt Stock Exchange, London Stock Exchange, and Zurich Stock...
- MostekMostekMostek was an integrated circuit manufacturer, founded in 1969 by ex-employees of Texas Instruments. Initially their products were manufactured in Worcester, Massachusetts, however by 1974 most of its manufacturing was done in the Carrollton, Texas facility on Crosby Road...
semiconductor - from 1979 to 1985 - Norden Systems - a corporation that manufactures electronics systems for military use, now a part of Northrop GrummanNorthrop GrummanNorthrop Grumman Corporation is an American global aerospace and defense technology company formed by the 1994 purchase of Grumman by Northrop. The company was the fourth-largest defense contractor in the world as of 2010, and the largest builder of naval vessels. Northrop Grumman employs over...
. - UT Automotive - Now, a division of Lear Corporation
- UT Communications bought Lexar and Stromberg Carlson, makers of telephone equipment, which were later sold to Memorex in 1985.
- Turbo Power and Marine Systems, Inc - Simple-cycle electrical power generation Power units 25 MW & 50 MW currently known as Pratt & Whitney Power Systems
Political contributions
During the 2004 election cycle, UTC was the sixth largest defense industry donor to political campaigns, contributing a total of $789,561. 64% of UTC's 2004 contributions went to Republicans. UTC was also the sixth largest donor to federal candidates and political parties in the 2006 election cycle. 35% of those contributions went to Democrats; 53% of the funds were contributed to Republicans.In 2005, United Technologies was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
.
Philanthropy
In 1981, a contribution from UTC made possible the exhibition "Paris/Magnum: Photographs 1935-1981," featuring photographs of Paris taken by photographers of Magnum PhotosMagnum Photos
Magnum Photos is an international photographic cooperative owned by its photographer-members, with offices located in New York, Paris, London and Tokyo...
, the agency founded in 1947 by Robert Capa
Robert Capa
Robert Capa was a Hungarian combat photographer and photojournalist who covered five different wars: the Spanish Civil War, the Second Sino-Japanese War, World War II across Europe, the 1948 Arab-Israeli War, and the First Indochina War...
, George Rodger
George Rodger
George Rodger was a British photojournalist noted for his work in Africa and for taking the first photographs of the death camps at Bergen-Belsen at the end of the Second World War....
, Henri Cartier-Bresson
Henri Cartier-Bresson
Henri Cartier-Bresson was a French photographer considered to be the father of modern photojournalism. He was an early adopter of 35 mm format, and the master of candid photography...
, William Vandivert, and David Seymour
David Seymour
Chim was the pseudonym of David Seymour , a Polish photographer and photojournalist. Born Dawid Szymin in Warsaw to Polish Jewish parents, he became interested in photography while studying in Paris...
. A volume of the same title, with text by Irwin Shaw
Irwin Shaw
Irwin Shaw was a prolific American playwright, screenwriter, novelist, and short-story author whose written works have sold more than 14 million copies. He is best-known for his novel, The Young Lions about the fate of three soldiers during World War II that was made into a film starring Marlon...
and an introduction by Inge Morath
Inge Morath
Ingeborg Morath was an Austrian-born photographer. In 1953 she joined the Magnum Photos Agency, founded by top photographers in Paris, and became a full photographer with them in 1955...
, was also published in 1981.
UTC is the sponsor of "Aphrodite and the Gods of Love" at Boston's Museum of Fine Arts, opening fall 2011.
Environmental record
Researchers at the University of Massachusetts AmherstUniversity of Massachusetts Amherst
The University of Massachusetts Amherst is a public research and land-grant university in Amherst, Massachusetts, United States and the flagship of the University of Massachusetts system...
have identified UTC as the 38th-largest corporate producer of air pollution
Air pollution
Air pollution is the introduction of chemicals, particulate matter, or biological materials that cause harm or discomfort to humans or other living organisms, or cause damage to the natural environment or built environment, into the atmosphere....
in the United States as of 2008. UTC released roughly 110,000 pounds of toxic chemicals annually into the air
including manganese
Manganese
Manganese is a chemical element, designated by the symbol Mn. It has the atomic number 25. It is found as a free element in nature , and in many minerals...
, nickel
Nickel
Nickel is a chemical element with the chemical symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel belongs to the transition metals and is hard and ductile...
, chromium
Chromium
Chromium is a chemical element which has the symbol Cr and atomic number 24. It is the first element in Group 6. It is a steely-gray, lustrous, hard metal that takes a high polish and has a high melting point. It is also odorless, tasteless, and malleable...
and related compounds.
In 2006, they joined the Chicago Climate Exchange
Chicago Climate Exchange
The now defunct Chicago Climate Exchange was North America’s only voluntary, legally binding greenhouse gas reduction and trading system for emission sources and offset projects in North America and Brazil....
as a Phase 1 and Phase 2 member.