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United Technologies Sells Power Systems Business

Wed, 03/27/2013 - 10:07am
The Associated Press

HARTFORD, Connecticut (AP) — United Technologies Corp. is selling a former Goodrich Corp. electric power systems business for about $400 million to French aerospace manufacturer Safran SA.

The U.S.-based aerospace conglomerate announced the sale Tuesday.

The sale is the second of two divestitures required by U.S. regulators as a condition of United Technologies' $18.4 billion purchase of Goodrich, a manufacturer of airplane parts. United Technologies announced on March 18 the sale of a pump and engine control systems business owned previously by Goodrich.

The Justice Department last year said the Goodrich deal would have combined the only two significant suppliers of large main engine generators for aircraft.

United Technologies shares fell 15 cents to close at $92.65.

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