UTX Completes UTC Power Divesture - Analyst Blog
February 13 2013 - 6:40AM
Zacks
United Technologies
Corp. (UTX) recently divested its UTC Power fuel cells
business to ClearEdge Power for an undisclosed amount. The
strategic move is consistent with its long-term strategy to
reposition its portfolio to focus on the core business of aerospace
and building systems.
Headquartered in Hillsboro, Ore, ClearEdge Power offers ultra-clean
and efficient on-site energy generation systems for homes and small
businesses. The company has operations across the West Coast of the
U.S. Since its inception in 2003, ClearEdge Power has evolved as a
premier provider of fuel cell stacks, fuel processing, and
integrated balance of systems.
The acquisition of UTC Power fuel cells unit is likely to reap
synergistic benefits for ClearEdge Power as the former is widely
renowned to produce fuel cells that offer clean, reliable power for
buildings and vehicles. To add a feather to its cap, UTC Power fuel
cells were also used on all U.S. manned space flights as an
industry pioneer. Consequently, the transaction gives unrivalled
advantage to ClearEdge Power and brings it on the forefront of
green, secure, distributed generation.
Based in Hartford, Conn, United Technologies provides high-end
technology products and services to the building systems and
aerospace industries worldwide. The company is a diversified
business conglomerate serving various end markets such as
aerospace, defense and commercial construction. The business
diversification allows the company to remain profitable amid tough
economic times.
The operations of the company are primarily classified into two
principal businesses: commercial and aerospace. Under its
commercial business, the company has Otis and the UTC Climate,
Controls & Security division which combined the former Carrier
and UTC Fire & Security divisions. The aerospace business of
the company consists of Sikorsky aircraft and the UTC Propulsion
& Aerospace Systems, which includes UTC Aerospace Systems and
Pratt & Whitney divisions.
United Technologies faces intense competition from industry bigwigs
such as Federal Signal Corp. (FSS), China
Merchants Holdings (International) Company Limited
(CMHHY), and Jardine Strategic Holdings Ltd.
(JSHLY), each carrying a Zacks Rank #1 (Strong Buy). United
Technologies presently has a Zacks Rank #3 (Hold).
(CMHHY): ETF Research Reports
FED SIGNAL CP (FSS): Free Stock Analysis Report
(JSHLY): ETF Research Reports
UTD TECHS CORP (UTX): Free Stock Analysis Report
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