United Technologies spent much of 2018 changing the complexion of the company. The industrial giant is working to divest its Otis and Carrier divisions, among others, by mid 2020 as it doubles down on its aerospace business, courtesy of its $30 billion acquisition of Rockwell Collins. The Farmington, Conn. company totaled annual revenue of $66.5 billion, up 11% compared to 2017. Though the grounding of Boeing’s 737 Max program hurt recent profits, the confidence of United Technologies leaders remains high, and early signs suggest there’s plenty more money to be saved from all of its M&A activity.
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The combined company will have $74 billion in sales
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The conglomerate is breaking up into Otis, Carrier and an aerospace business.
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