The increased scale, financial strength and complementary products resulting from the Goodrich acquisition significantly advance United Technologies' aerospace leadership at a time when the commercial aerospace industry is poised for growth.
"Throughout the history of our company, we have made many acquisitions, but Goodrich is among the few that stand out as truly transformational,"
"The addition of Goodrich, along with our recent acquisition of a majority share in International Aero Engines, greatly advances our strategy of focusing on our core businesses and strengthens our position in the growing commercial aerospace market," he continued.
UTC also announced that Marshall Larsen, formerly Goodrich's chairman and chief executive officer, is slated to join the United Technologies Board of Directors. Larsen is expected to be formally elected at the next scheduled meeting of UTC's board on Sept. 12, 2012.
"Marshall's global business experience and remarkable record of accomplishment while leading Goodrich will make him a valuable addition to UTC's Board of Directors," Chenevert said. "I look forward to continuing to work with him and to welcoming him to our board."
In addition, effective immediately, Alain Bellemare is appointed President & Chief Executive Officer of UTC Propulsion & Aerospace Systems. Bellemare will have leadership responsibility for Pratt & Whitney and for the newly created UTC Aerospace Systems. The presidents of Pratt & Whitney and of UTC Aerospace System's two businesses – Aircraft Systems and Power, Controls & Sensing Systems – will report to him.
"Alain's strong customer relationships, deep knowledge of the global aerospace markets, and proven leadership capabilities – most recently demonstrated during Goodrich integration planning – will serve him well and enable UTC Propulsion & Aerospace Systems to deliver unmatched value to customers and shareholders,"
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries. Visit the new UTC Aerospace Systems website at www.utcaerospacesystems.com.