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United Technologies CFO Says Potential Sales Plans to be Discussed in March

United Technologies CFO Says Potential Sales Plans to be Discussed in March

The chief financial officer of United Technologies Corporation said recently that in anticipation of its largest takeover ever, the company could announce in March that it plans to sell some units of a business to raise money.

According to Reuters,

The chief financial officer of United Technologies Corporation said recently that in anticipation of its largest takeover ever, the company could announce in March that it plans to sell some units of a business to raise money.

According to Reuters, CFO Greg Hayes told investors during a conference call that the company could sell some of its fire and security unit's installation businesses, with the decision expected to be made public at a March 15 investor meeting.

"Some of the fire security products are probably turning out to be much better than some of the installation businesses," Hayes said. "I will tell you that fire (detection and suppression equipment) is core and we'll take a look at the rest of it. I just don't want to get ahead of ourselves because we have got some good service and installation businesses around the world that perform very well and we have some that don't perform as well."

The potential move comes as United Technologies gears up for its $16.5 billion takeover of Goodrich Corporation, the news source said.

According to The Associated Press, the company's fourth-quarter profit climbed 11 percent, beating analysts' expectations.

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