United Technology Company Paper
United Technology Company Paper
Company overview
As an American multi-industry company, United technology Corporation (UTC) concentrates its aerospace products and services, including jet engines and helicopters. Formed in 1934 as United Aircraft Corporation, it adopted its present name in 1975. Headquarters are in Hartford, Connecticut. In 2000, UTC employed about 150,000 people, half of which were located outside the United States.
Under the name of UTC are three major aerospace business units—Pratt & Whitney, Sikorsky, and Hamilton Sundstrand. First of all, Pratt & Whitney makes engines and industrial gas turbines. It is one of the worlds leading builders of large jet engines for commercial and military aircraft. Secondly, Sikorsky is a leading manufacturer of military and commercial helicopters. In cooperation with Boeing Company, Sikorsky manufactures the RAH-66 Comanche stealth helicopter for air combat. Finally, Hamilton Sundstrand is a business unit at UTC that makes propellers and environmental controls.
UTCs other major units are Otis Elevator Company, which specializes in elevators and shuttle systems, Carrier Corporation, which makes heatingand air-conditioning systems, and International Fuel Cells, which makes fuel cells for space and commercial uses.
Company Acquisation Evolution
The history of UTC is accompanied by a series of business acquisition, making UTC the multi-industry company as it is today. United Technologies companies was founded in 1929 as United Aircraft and Transport Corporation, by the merger of the Boeing Airplane Company, Boeing Air Transport, Chance Vought, Hamilton Standard, Pratt & Whitney, and Sikorsky Aircraft. As a result of the Air Mail Act in 1934, United Aircraft and Transport broke up into three independent companies: Boeing, United Aircraft, and United Airlines. Vought was spun off as an independent business in 1954, but otherwise, United Aircraft maintained its original corporate structure and concentration in the aerospace and defense industries well into the 1970s.
UTCs Otis and Carrier units were acquired during their parent companys effort in the 1970s to diversify its business and so reduce dependence on sales to the military. In early 1975 United Aircraft adopted the name United Technologies Corporation to reflect this broadening of interests, and later that same year it acquired a stake in Otis Elevator Company. Otis became a wholly owned subsidiary of UTC in 1976. In 1979 UTC purchased Carrier Corporation, the worlds largest maker of air-conditioning and refrigeration equipment. n 2004, UTC acquired the Schweizer Aircraft Corporation which now operates as a wholly-owned subsidiary under their Sikorsky Aircraft division.
Company History
It is also important to view the history of United Technologies from a lens of the development of several exceptional business leaders and the change they brought to UTC.The company began with the commitment of Frederick Rentschler