United Technologies Corp. (UTC) last week completed a $3.46 billion sale of its Hamilton Sundstrand industrial products unit to help finance the company’s July acquisition of Goodrich Corp., valued at $16.5 billion.
Hartford-based UTC announced Dec. 13 that it had closed on the sale of its Milton Roy Co., Sullair Corp. and Sundyne Corp. businesses – which together made up the company’s Hamilton Sundstrand unit – to BC Partners and The Carlyle Group.
UTC said the proceeds would be used to repay a portion of the debt incurred to finance its Goodrich acquisition, which represents the largest deal in the company’s history.
Separately, UTC Chairman and CEO Louis Chenevert told investors and analysts at a Dec. 13 meeting that he expects 2012 earnings of $5.32 per share, with the company previously projecting annual earnings of between $5.25 and $5.35 a share.
Chenevert also said the company projects 2013 earnings of between $5.85 and $6.15 a share, which would represent year-over-year growth of between 10 and 16 percent. Sales are projected to rise 10 to 12 percent in 2013 to between $64 and $65 billion.
He said in a prepared statement that 2012 “has been a transformational year for United Technologies.”
