United Tech to buy Rockwell Collins for $22.75 billion
NEW YORK (AP) — United Technologies plans to boost its aerospace business by paying $22.75 billion for flight deck maker Rockwell Collins.
United Tech said it will combine its aerospace unit with Rockwell Collins and rename it Collins Aerospace Systems. That unit, which United Tech expects to bring in more than $23 billion in sales a year, will make airplane seats, landing systems and other parts for commercial and military planes. The buyout comes about five months after Rockwell Collins completed a deal to buy rival B/E Aerospace for more than $6 billion. Besides its aerospace business, Farmington, Connecticut-based United Tech also makes Otis elevators and Carrier air conditioners.