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United Technologies selling unit to Oregon firm
Updated: Saturday, 22 Dec 2012, 1:13 PM EST
Published : Saturday, 22 Dec 2012, 1:13 PM EST
SOUTH WINDSOR, Conn. (AP) — United Technologies Corp. says it has reached an agreement to sell its fuel cell business based in South Windsor to an Oregon fuel cell manufacturer.
Terms of the deal with ClearEdge Power Inc. of Hillsboro, Ore., were not disclosed Saturday.
The Hartford, Conn.-based industrial conglomerate is unloading UTC Power as it transforms its portfolio to focus on its core aerospace and building businesses.
United Technologies is the parent company of jet engine maker Pratt & Whitney, Otis elevator, Sikorsky Aircraft and other companies.
UPC Power is among the smallest United Technologies units with 405 employees.
United Technologies says the deal to sell UTC Power is subject to customary closing conditions. Closing is expected in early 2013.
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