United Technologies Corp. Gets U.S. Clearance to Buy Chubb
United Technologies Corp. (UTC) last month won clearance from U.S. antitrust officials to purchase British-based security group Chubb Plc for $1 billion. After a preliminary review, antitrust authorities decided not to oppose the sale of Chubb to UTC, which makes Otis elevators and Black Hawk helicopters, according to a notice released by the U.S. Federal Trade Commission.
Chubb employs about 48,000 people and reported 2002 revenues of $2.5 billion. Worldwide, the company has more than 1 million customers.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!