Raytheon, United Technologies to merge - RTHK
A A A
Temperature Humidity
News Archive Can search within past 12 months

Raytheon, United Technologies to merge

2019-06-10 HKT 05:19
Share this story facebook
  • Raytheon (pictured) is to merge with United Technologies to form a defence giant with about US$74 billion in sales. Image: Shutterstock
    Raytheon (pictured) is to merge with United Technologies to form a defence giant with about US$74 billion in sales. Image: Shutterstock
American defence and aeronautics heavyweights Raytheon and United Technologies announced on Sunday that they have agreed to merge, the companies said in a joint statement.

"The transaction will create a premier systems provider with advanced technologies to address rapidly growing segments within aerospace and defense," the statement said.

The new company -- which will be named Raytheon Technologies Corporation -- is expected to have around US$74 billion in sales this year, it said.

It will not include Otis elevators and Carrier air-conditioning and building systems -- non-defense and aerospace enterprises that the statement said "are expected to be separated from United Technologies in the first half of 2020."

Raytheon is best known for its Patriot air defense systems, which gained fame during the first Gulf War, and its Tomahawk cruise missiles, often the first weapons fired from US navy ships in recent conflicts.

United Technologies is a big player in the aeronautics industry with its Pratt and Whitney engines, which are used in civil and military aircraft, including the F-35 multi-role stealth fighter, considered one of the most advanced combat aircraft in the world. (AFP)