Business Services Industry
United Technologies to Focus on Elevator, Air-Conditioning, Security Firms.
Knight Ridder/Tribune Business News, July, 2003
By Barbara Nagy, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jul. 26--United Technologies Corp. hasn't completed its $1 billion ac...uisition of Chubb PLC yet, but speculation about the next purchase is already rising.
The Hartford conglomerate will probably focus on small companies that complement its elevator, air-conditioning and security-services businesses -- not its aerospace units, analysts say.
The commercial aircraft industry is in a historic downturn, and Wall Street wouldn't look favorably on most aerospace investments. Analysts say investors would only welcome a purchase that gives UTC a clear, critical, long-term advantage -- preferably in the growing market for military aircraft.
Any...
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