United Technologies aerospace division will officially merge with defense contractor Raytheon to form a new company called Raytheon Technologies Corporation next year. Word of the deal was first reported by The Wall Street Journal this morning.
The deal will see United Technologies, which produces airplane components and is made up of Collins Aerospace and Pratt & Whitney, merge with Raytheon, which manufactures everything from missiles to communications equipment for the military. The deal is expected to close in the first quarter of 2020, and doesn’t include two of United Technologies’ subsidiaries, Otis Elevators, and Carrier, which will both be spun off into different companies next year.
The companies say that together, they will…
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