United Technologies Corp, the world's largest maker of elevators and air conditioners, said it will sell the power systems business of its aircraft engine unit, Pratt & Whitney, to Mitsubishi Heavy Industries. "Divesting Power Systems allows UTC to focus on its core aerospace and commercial businesses," United Technologies said.United Technologies said it expects the deal to close in the second quarter of 2013.Terms of the agreement were not disclosed.
United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries worldwide. Shares of UTX remained unchanged at $81.19. In the past year, the shares have traded as low as $70.71 and as high as $87.50. On average, 4236000 shares of UTX exchange hands on a given day and today's volume is recorded at 0.
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