CHARLOTTE, NC, – UTC Aerospace Systems recently hosted the Rt Hon Michael Fallon MP Minister of State for Business and Energy at its Hemel Hempstead, Hertfordshire, UK facility on May 7. The visit was an opportunity for UTC Aerospace Systems to update the Minister on the aerospace work being performed at the site and to officially open the redeveloped Technology House. The facility has approximately 160 employees, and is a new addition to the Hemel Hempstead business community having recently relocated. UTC Aerospace Systems is a unit of United Technologies Corp. (NYSE: UTX).
Business and Energy Minister Michael Fallon said, “Research and development has a crucial role to play in the long-term success of the UK’s aerospace sector, which is why it features so heavily as part of our Aerospace Industrial Strategy developed by industry and Government through the Aerospace Growth Partnership.
“UTC Aerospace Systems’ new state of the art facility is positive news for the local economy and demonstrates the confidence global businesses have in the UK as a place to do business and invest in new technologies to keep us at the forefront of this highly competitive global market.”
“It’s a privilege to host the Rt Hon Michael Fallon MP at the official opening of our new facility in Hemel Hempstead,” said Gareth Morris, general manager for UTC Aerospace Systems, Motor Drive Systems Centre, Hemel Hempstead.
“A great deal of hard work and commitment has been shown by all our employees in establishing the new facility, which provides us with the infrastructure to continue to grow our capabilities in high performance power electronics and motor drive technologies. These will form a key element of the more efficient, greener aircraft of the future.” he added.
The UTC Aerospace Systems Motor Drives Systems Centre (MDSC) based in the UK at Hemel Hempstead with a satellite engineering office in Birmingham specializes in the design, development, manufacture and in-service support of motor drive systems for the aerospace and defense markets.
MDSC has a background of developing electric motors, motor drive electronics and power electronic systems spanning 25 years, providing a strategic capability to develop high-performance motor drive systems for Nacelles, Flight Controls, Landing Gear and Engine Systems being developed by other UTC Aerospace Systems businesses around the world.
UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries. UTC Aerospace Systems supports a global customer base with significant worldwide manufacturing and customer service facilities.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.
CHARLOTTE, NC, April 29, 2013 – UTC Aerospace Systems, will release its next generation Sensors Unlimited high resolution, snapshot shortwave infrared (SWIR) camera at the SPIE Defense Security & Sensing Exhibition, April 29 – May 2, 2013, at the Baltimore Convention Center, Baltimore, Md. UTC Aerospace Systems is a unit of United Technologies Corp. (NYSE:UTX)
On display at booth 1217, this high sensitivity, mil-rugged Indium Gallium Arsenide (InGaAs) SWIR camera is the highest resolution VGA SWIR camera on the market, driven by a 640×512 pixel SWIR image sensor with 12.5 micron pixel pitch. It is designed for camera users that are looking for a more affordable high performance SWIR imager, with small SWaP (size, weight, and power), and daylight to low-light imaging capability.
The Sensors Unlimited 640-MicroSWIR™ camera performance, reliability, and SWaP make it ideal for use in a variety of industrial and military systems; for a range of applications including industrial process monitoring, enhanced vision, persistent surveillance, and laser spot tracking. The camera weighs less than 55 grams, measures 1.25in x 1.25in x 1.25in., uses less than 2 W of power at 20°C, and operates from -40 to 70°C case temperatures. It includes an industry standard C-mount lens interface on a 2/3” camera format, which allows users to select a myriad of lens options. Also, the MicroSWIR™ camera’s low noise imaging capability (35e- total noise), on-board automatic gain control (AGC), non-uniformity corrections (NUCs), and dynamic range enhancements provide optimized imagery in a wide variety of lighting conditions. The 640-MicroSWIR™ was built for rugged operation, and includes the assurance of MIL-STD-810G environmental testing and CE certification. Technical teams will be on hand throughout the show for expert demonstrations and to answer questions on all Sensors Unlimited products displayed.
UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries. UTC Aerospace Systems supports a global customer base with significant worldwide manufacturing and customer service facilities.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.
CHARLOTTE, N.C., In order to provide greater flexibility for customers to address varied mission profiles, UTC Aerospace Systems has launched a new line of Cloud Cap Technology HD (high definition) TASE stabilized camera systems. The updates add HD imaging and HD downlink capability to the TASE 300 and 400 systems. The systems are housed in a 7.5lb, 7 inch diameter sphere making them ideal for both manned and unmanned systems and will be available for customer shipment in May 2013 (TASE400HD) with the additional products to follow (TASE 310HD, TASE350HD). UTC Aerospace Systems is a unit of United Technologies Corp. (NYSE:UTX)
The camera systems add HD daylight imagery to the continuous zoom, cooled medium-wave infra-red (MWIR), and Long Wave Infra-Red (LWIR) capable systems. With the additions of the new 1280 x 720 HD daylight camera, the new TASE 300 and 400 series products will provide high definition mega-pixel resolution imagery for a wide range of daylight conditions in a very low SWaP (Size, Weight and Power). Unique to this system update is the ability to downlink high definition daylight video over the IP-based Bandit data link that has traditionally only been used to downlink standard definition video. The TASE400HD will be available for customer shipment in May 2013 with the additional TASE 310HD and TASE350HD products to follow.
According to John Trezza, vice president, ISR Systems, “HD quality video from a system with the size and weight of these gimbals has been an intensive project at Cloud Cap and we are pleased to deliver maximized day and night surveillance to both manned and unmanned customers.”
More information on the Cloud Cap Technology TASE gimbal family and the new TASE HD products can be found at www.cloudcaptech.com.
UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries. UTC Aerospace Systems supports a global customer base with significant worldwide manufacturing and customer service facilities.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.
HARTFORD, Conn. – United Technologies Corp. (NYSE:UTX) reported first quarter earnings per share of $1.39 and net income attributable to common shareowners of $1.3 billion, up 6 percent and 7 percent, respectively, over the year ago quarter. Results for the current quarter include $0.11 per share of favorable one-time items net of restructuring costs. Earnings per share in the year ago quarter included a $0.21 benefit from one-time items net of restructuring costs. Before these items, earnings per share increased 16 percent year over year. Net foreign currency translation and hedges at Pratt & Whitney Canada had an adverse impact of $0.01 in the quarter.
Sales for the quarter of $14.4 billion were 16 percent above prior year driven by the benefit of net acquisitions. Organic sales decreased 2 percent from the year ago quarter reflecting ongoing weakness in both Europe and the commercial aerospace aftermarket, and the impact of defense cuts at Sikorsky. First quarter segment operating profit increased 14 percent over the prior year quarter. Adjusted for restructuring costs and net one-time items, segment operating profit grew 15 percent.
“Our focus on integration and execution led to solid performance as we continue to build momentum,” said Louis Chênevert, UTC Chairman & Chief Executive Officer. “The Goodrich and IAE acquisitions are exceeding our expectations and creating new opportunities for long term organic growth.”
New equipment orders at Otis increased 24 percent over the year ago first quarter, led by 29 percent growth in China. Foreign currency had a 2 point favorable impact in China. UTC Climate, Controls & Security equipment orders increased 5 percent organically. Large commercial engine spares orders were up 14 percent at Pratt & Whitney including the benefit from the incremental International Aero Engines share. Organically, commercial spares orders were down 28 percent at Pratt & Whitney. On a pro-forma basis, adjusted to include Goodrich in both years, commercial spares orders increased 2 percent at UTC Aerospace Systems.
“Macroeconomic indicators coupled with order improvement in our commercial businesses point towards a gradual resumption of organic growth during the course of the year,” Chênevert added. “Our ongoing focus on cost reduction provides strong operating leverage and we continue to expect 2013 earnings per share of $5.85 to $6.15 on sales of $64 to $65 billion.”
Cash flow from operations was $1.4 billion and capital expenditures were $295 million in the quarter. Share repurchase was $335 million and UTC continues to anticipate share repurchase and acquisitions of $1 billion each in 2013. The company continues to expect cash flow from operations less capital expenditures to meet or exceed net income attributable to common shareowners for the year.
“We started our share repurchase program and closed additional divestitures this quarter in accordance with our plan,” Chênevert said. “Our strong cash position will allow us to pay down $2 billion of debt in 2013, up from our prior estimate of $1 billion, as we execute our deleveraging strategy.”
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries. Additional information, including a webcast, is available on the Internet at http://www.utc.com. To learn more about UTC, visit the website or follow the company on Twitter: @UTC
All financial results and projections reflect continuing operations unless otherwise noted. The accompanying tables include information integral to assessing the company’s financial position, operating performance, and cash flow, including a reconciliation of differences between non-GAAP measures used in this release and the comparable financial measures calculated in accordance with generally accepted accounting principles in the United States.
This release includes statements that constitute “forward-looking statements” under the securities laws. Forward-looking statements often contain words such as “believe,” “expect,” “plans,” “strategy,” “prospects,” “estimate,” “project,” “target,” “anticipate,” “will,” “should,” “see,” “guidance,” “confident” and similar terms. Forward-looking statements may include, among other things, statements relating to future and estimated sales, earnings, cash flow, charges, expenditures, anticipated benefits of acquisitions and divestitures, results of operations, share repurchases, uses of cash and other measures of financial performance. All forward-looking statements involve risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties include, without limitation, the effect of economic conditions in the markets in which we operate, including financial market conditions, fluctuation in commodity prices, interest rates and foreign currency exchange rates; future levels of research and development spending; levels of end market demand in construction and in the aerospace industry; levels of air travel; financial difficulties of commercial airlines; changes in government procurement priorities and availability of funding; the impact of weather conditions and natural disasters; the financial condition of our customers and suppliers; delays and disruption in delivery of materials and services from suppliers; cost reduction efforts and restructuring costs and savings and other consequences thereof; the scope, nature, timing or impact of acquisitions, dispositions, joint ventures and other business arrangements, including integration of acquired businesses; the timing and amount of gains, losses, impairments and charges related to anticipated dispositions; the timing and impact of anticipated debt reduction following the Goodrich acquisition; the development and production of new products and services; the anticipated benefits of diversification and balance of operations across product lines, regions and industries; the impact of the negotiation of collective bargaining agreements and labor disputes; the outcome of legal proceedings and other contingencies; future availability of credit; pension plan assumptions and future contributions; and the effect of changes in tax, environmental and other laws and regulations, political conditions in countries in which we operate and other factors beyond our control. The completion of the proposed divestitures of businesses is subject to uncertainties, including the ability to secure regulatory approvals on acceptable terms, and satisfaction of other customary conditions. The timing and amount of share repurchases depends upon UTC’s evaluation of market conditions and the level of other investing activities and uses of cash. The forward-looking statements speak only as of the date of this release and we undertake no obligation to update or revise any forward-looking statements after the date of this release. For additional information identifying factors that may cause actual results to vary materially from those stated in the forward-looking statements, see our reports on Forms 10-K, 10-Q and 8-K filed with the SEC from time to time, including, but not limited to, the information included in UTC’s Forms 10-K and 10-Q under the headings “Business,” “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” and in the notes to the financial statements included in UTC’s Forms 10-K and 10-Q.
CHARLOTTE, N.C. – Sensors & Integrated Systems, a unit of UTC Aerospace Systems located in Plymouth, UK has won a 2013 Queen’s Award for Enterprise, the highest official UK honor for British business. The award, in the category of Innovation, recognizes the international success of the business’ unique, miniature, solid state gyroscopic devices. These rugged inertial measurement units (IMUs) help guide a wide variety of systems including air and land vehicles, missiles and shells. UTC Aerospace Systems is a unit of United Technologies Corp. (NYSE: UTX).
This is the company’s third Queen’s Award for Enterprise in ten years. The first, in 2004, recognized the highly-innovative nature of the IMU design while the second, in 2011, recognized the company’s success in tripling exports for their products which included these small, reliable IMUs. These highly-successful guidance devices are just the latest development in a century of innovative gyroscopic technology from the company, including the Sperry Gyroscope and the ship-borne guidance systems that date back to 1913 in the UK.
UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries. UTC Aerospace Systems supports a global customer base with significant worldwide manufacturing and customer service facilities.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.
CHARLOTTE, NC — UTC Aerospace Systems’ Aerostructures business has been selected by Ocean Air Linhas Aereas Avianca Brazil to provide complete nacelle maintenance for the airline’s fleet of 12 A320 family aircraft powered by CFM56-5B engines. The flight hour agreement specifies that Aerostructures will provide initial provisioning of spare parts, dedicated nacelle components to enhance Avianca Brazil’s operational reliability, as well as providing scheduled and unscheduled maintenance repair and overhaul (MRO) coverage, including parts and labor. The MRO work will be performed at the UTC Aerospace Systems’ MRO facility located in Atibaia, Brazil (Goodrich do Brasil). UTC Aerospace Systems is a unit of United Technologies Corp. (NYSE:UTX).
“This is our first nacelle flight hour agreement within Brazil and demonstrates the importance of this growing market,” said Marc Duvall, president of Aerostructures. “Being selected by Avianca also underscores our capability in serving South American customers’ MRO needs through our maintenance facility, which relocated from Sao Carlos to Atibaia last year.”
A nacelle is the structure that surrounds the engine on an aircraft that improves fuel savings, reduces noise and assists in stopping the aircraft upon landing.
Avianca’s vision is to be the best airline in Brazil in quality, services, profitability and work environment. More information is available at http://www.avianca.com.br
UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries. UTC Aerospace Systems supports a global customer base with significant worldwide manufacturing and customer service facilities.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.
CHARLOTTE, NC — UTC Aerospace Systems has been selected by Spring Airlines Japan to supply the wheels and carbon brakes for its new fleet of 20 Boeing 737-800 Next Generation aircraft. The company will provide the equipment through its Wheels & Brakes business in Troy, Ohio. The first aircraft is scheduled for delivery in April, 2013. UTC Aerospace Systems is a unit of United Technologies Corp. (NYSE: UTX).
The 737 Next Generation carbon brakes use proprietary DURACARB® carbon heat sink material. The DURACARB® carbon provides exceptional brake performance and a 35 percent brake life advantage over competitive products, producing significant cost savings for operators. The wheels and carbon brakes provide a weight savings of approximately 700 pounds (318 kg) per aircraft compared to high capacity steel brakes.
“This agreement, which includes full carbon brake MRO services performed at our Hong Kong service center, demonstrates Spring Airlines’ confidence in our track record of providing great products and services with the lowest total cost of ownership,” said Cory May, vice president of commercial programs, Wheels & Brakes.
“UTC Aerospace Systems’ ability to offer the perfect full carbon brake service solution was a significant factor in our supplier selection,” stated Liu Haijun, director of maintenance and engineering, Spring Airlines Japan. “The seamless MRO support and lowest total cost of ownership will enable us to maintain our core business model. We look forward to superior customer focus and exceptional brake life on our new 737NG fleet.”
Spring Airlines Japan is a newly established Japanese subsidiary of Spring Airlines, the first and now the largest low-cost carrier in China. Spring Airlines Japan is based in Tokyo and will expand Spring Airlines’ international presence. Headquartered in Shanghai, Spring Airlines currently operates domestic and international passenger services on over 50 routes covering a network of more than 30 cities across China, Japan and Thailand. As a leader in China’s domestic travel market, Spring Airlines core business model includes low-cost fares and a strong focus on innovation, safety and efficiency.
UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries. UTC Aerospace Systems supports a global customer base with significant worldwide manufacturing and customer service facilities.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high-technology products and services to the building and aerospace industries.
CHARLOTTE, N.C. — UTC Aerospace Systems is marking more than 25 years of providing nacelle systems to Airbus for its A320 family of single-aisle aircraft. The Aerostructures business headquartered in Chula Vista, Calif. received its first contract to provide the complete nacelle system for the CFM56-5A engines built by CFM International in 1984. It received another contract to provide the nacelle system for the V2500 engines that power the A320 in 1985. The A320 airplane entered into service on March 28, 1988. Air France was the launch customer. UTC Aerospace Systems is a unit of United Technologies Corp. (NYSE: UTX).
Since the beginning of the program, the Aerostructures business has made a number of improvements to provide its Airbus customer with the highest level of support for the A320 program. The company’s facilities close to the Airbus final assembly line in Toulouse, France have expanded multiple times. The main plant that supports Airbus was further enhanced in 2009 with the addition of a mixed-model moving assembly line to enable higher production rates and assure optimal quality. The company set up a facility in Hamburg, Germany in 1992 to support the A321, A319 and A318 final assembly lines there. In 2011, the company opened a facility in Tianjin, China collocated with the Airbus A320 Final Assembly Line.
“We have now delivered more than 11,000 nacelles for the Airbus A320 family in the past 25 years and we’re extremely proud of our collaboration and performance on the program,” said UTC Aerospace Systems – Aerostructures President Marc Duvall. “Our relationship with Airbus is an example of companies working together. We have Aerostructures employees embedded at Airbus final assembly locations to install engines and nacelles onto their aircraft. Our on-time delivery performance on a daily basis is very high. It is a textbook case of the kind of progress that can be made when we marry our continuous improvement and lean expertise with relentless customer focus.”
In 2011, Airbus selected UTC Aerospace Systems’ Aerostructures business to provide the nacelle system for the Pratt & Whitney PurePower® Geared Turbofan™ engines that will power the A320neo (new engine option). The Aerostructures business is also the nacelle provider for the Airbus A350 XWB that is scheduled to enter into service next year. Later this year, the company will complete the expansion of its Toulouse assembly facility for the nacelle system for the Trent XWB engine. The expansion will include a groundbreaking volumetric robotic cell to aid in the assembly process for the A350 XWB nacelle, the largest commercial nacelle that the Aerostructures business has designed and built.
UTC Aerospace Systems also makes a wide range of additional systems for the A320 family including; primary and secondary flight control actuation systems, cabin crew seating, air data sensors, fuel measurement and management systems, ice detection systems, security and surveillance systems, specialty heaters and temperature sensors, electric power generation, ram air turbine emergency power system, fire protection, pilot controls, cabin pressure control and ventilation system, interior and exterior lighting, and wheels & brakes. The company also provides, full authority digital engine control (FADEC)/EEC, main fuel pump, and fuel splitter valve for the V2500 engine.
UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries. UTC Aerospace Systems supports a global customer base with significant worldwide manufacturing and customer service facilities.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high-technology products and services to the building and aerospace industries.
HARTFORD, Conn. – United Technologies Corp. (NYSE: UTX) today announced it has completed the sale of the former Goodrich Corporation electric power systems business to Safran for approximately $400 million. Sale of the electric power systems unit was one of the two divestitures required by regulatory authorities as a condition of UTC’s acquisition of Goodrich Corporation. UTC completed the sale of the other unit, the legacy Goodrich pumps and engine controls business, earlier this month.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.
HARTFORD, Conn. – United Technologies Corp. (NYSE: UTX) today announced it has completed the sale of the former Goodrich Corporation pump and engine control systems business to Triumph Group, Inc. (NYSE: TGI). Sale of the pump and engine control systems unit was one of the divestitures required by regulatory authorities as a condition of UTC’s acquisition of Goodrich Corporation. UTC has reached agreement to sell a second unit, the legacy Goodrich electric power systems business, which remains pending subject to regulatory approvals and customary closing conditions.
United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries.
This release includes “forward looking statements” concerning business transactions, their anticipated financial and business impact, and management’s beliefs and objectives with respect thereto, based on assumptions currently believed to be valid. These statements involve risks and uncertainties that could cause actual results to differ from those anticipated, including but not limited to the ability of the parties to satisfy conditions precedent, the timing of consummation of the second transaction, and the ability of the parties to secure regulatory approvals on the terms desired or anticipated. Other important economic, political, regulatory, legal, technological, competitive and other uncertainties are identified in the SEC filings submitted by UTC from time to time, including Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K, and Current Reports on Form 8-K. The forward looking statements included in this press release are made only as of the date hereof. UTC does not undertake any obligation to update the forward looking statements to reflect subsequent events or circumstances.
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