UTC Selling Pratt & Whitney Power Systems Unit to Mitsubishi
On Wednesday, United Technologies announced that it will sell its Pratt & Whitney Power Systems unit to Mitsubishi Heavy Industries in a deal expected to close in the second quarter of 2013. Financial terms of the deal were not disclosed.
UTC described the move as part of an effort to focus on its "core aerospace and commercial businesses." Mitsubishi Heavy Industries recently signed an agreement with Hitachi to merge the two companies' Thermal Power Generation businesses into a new joint venture some time next year.
The article UTC Selling Pratt & Whitney Power Systems Unit to Mitsubishi originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.