Raytheon and United Technologies announce merger

2019/06/8e852c0d0f7304cabc9849cd5994698341231b1a-1560118994.jpg
Read: 1436     10:35     10 June 2019    

Raytheon and United Technologies announced on Sunday that they will merge, creating a behemoth American aeronautics and defense company.


The new company, Raytheon Technologies Corporation, will be created via an exchange of shares between the two firms, with the merger expected to conclude in the first half of 2020, they 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.

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 (UTC) 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.

The Wall Street Journal first reported that talks have been under way between the two pillars of the global aeronautics and defense industries.

AFP



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News Line

Raytheon and United Technologies announce merger

2019/06/8e852c0d0f7304cabc9849cd5994698341231b1a-1560118994.jpg
Read: 1437     10:35     10 June 2019    

Raytheon and United Technologies announced on Sunday that they will merge, creating a behemoth American aeronautics and defense company.


The new company, Raytheon Technologies Corporation, will be created via an exchange of shares between the two firms, with the merger expected to conclude in the first half of 2020, they 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.

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 (UTC) 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.

The Wall Street Journal first reported that talks have been under way between the two pillars of the global aeronautics and defense industries.

AFP



Tags: