A PYMNTS Company

US: UTC closes on Rockwell Collins acquisition

By  |  November 27, 2018

United Technologies (UTC) announced the completion of its acquisition of Rockwell Collins late Monday, November 26, more than a year after it declared its plans to buy Cedar Rapids’ largest employer.

Rockwell will combine with Charlotte, NC-based UTC Aerospace Systems to form Collins Aerospace Systems. Collins Aerospace spokeswoman Pam Tvrdy-Cleary said there are no immediate changes planned as to how many employees will be based in Cedar Rapids or Collins Aerospace’s other locations in Eastern Iowa.

“Collins Aerospace remains committed to Iowa employees and helping the areas in which they live and work continue to thrive,” she wrote in an email to The Gazette.

It will have some 70,000 employees, and Kelly Ortberg, Rockwell Collins CEO and president will be CEO of Collins Aerospace. UTC Aerospace President Dave Gitlin will be president.

Full Content: The Gazette
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.